Natasha Griggs (Solomon, Country Liberal Party) Share this | Link to this | Hansard source

My question is to the Prime Minister. What action is the government taking to strengthen the Australian economy and create more jobs, including in my electorate of Solomon?

Tony Abbott (Warringah, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

That is a terrific question from the member for Solomon—a really terrific question—because on the weekend, with the member for Solomon, I helped to open the Australian Agricultural Company's new meat-processing facility near Darwin. It is a $100 million plus investment, it will employ 300 people and it will process some 300,000 head of cattle every year. It is just about the biggest private sector investment in agriculture in northern Australia in years. I will have more to say about northern Australia next week. This is what happens when you have a government that is open for business. This is what happens when you do not have a carbon tax. It is what happens when you do not ban the live cattle trade and it happens when you do—

Mr Snowdon interjecting—

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

The member for Lingiari!

Mr Snowdon interjecting—

The member for Lingiari is warned!

Tony Abbott (Warringah, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

have three major free trade agreements that eluded governments for up to a decade. Our economy is strong and it is being helped by the policies of this government. Economic growth is now 2.7 per cent, up from 1.9 per cent a year ago. Jobs growth last year was three times the rate in the last year of the Labor government. Export volumes are up seven per cent on a year ago. Building approvals are at near record levels and they are up nine per cent on a year ago. Retail trade is up four per cent on a year ago and last year the registration of new businesses was at an all-time record high. Consumer sentiment was up eight per cent in February and it is at the highest level in a year. Job ads are up 14 per cent on a year ago. The Dun & Bradstreet business expectations survey released earlier this month found that the outlook on employment is the most positive it has been in 10 years.

Interest rates are low, petrol prices are low, power prices have come down, and the dollar is more competitive so it is no wonder that the people of Australia are more optimistic, but to keep the optimism you need a government that is open for business, and that government is this government. Just one bit of information that I am sure the House would like to hear: Qantas has just announced their half-year profit of $200 million. The company that wanted a guarantee 12 months ago now has just released a half-yearly profit of $200 million. The abolition of the carbon tax added $59 million to their bottom line. Do you know what? That man wants to bring it back. He wants to hit the profitability of every company in Australia.