Sharman Stone (Murray, Liberal Party) Share this | Link to this | Hansard source

Will the Prime Minister update the House on this month's job figures and how this government's long-term economic plan is strengthening the Australian economy?

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

I do thank the member for Murray for her question. I thank her for her commitment to doing the right thing by the job seekers of her electorate and elsewhere. I can inform her that last week's employment figures show that April's unemployment was revised down from 6.2 to 6.1 per cent and that unemployment last month, in May, fell to just six per cent. Six per cent is very significantly better than forecast and it shows that there have been almost 290,000 jobs created. It shows that there are 290,000 more jobs in our economy, now, than there were in September 2013. It also shows that our economy is on track to create a million jobs within five years, which is the commitment that this government gave to the people at the election.

This encouraging statistic comes on the back of national accounts figures showing that our economy grew by 0.9 per cent in the March quarter, and this is amongst the highest economic growth rate in the developed world. In the march quarter export volumes increased—and I know the member for Murray will be pleased about this—five per cent. It is the best result in 15 years. Construction increased by almost five per cent and that is the best result in six years. Importantly, services exports increased by eight per cent and that is the best result in seven years. Business confidence increased last month from three to seven on the National Australia Bank index, and that compares to just 0.5 over the life of the former government.

None of this happens by accident. It happens because Australia is open for business, thanks to the policies of this government. Under this government the carbon tax is gone, the mining tax is gone, environmental approval has been given for new projects worth over $1 trillion—the biggest road-building program in Commonwealth history is well under way—red-tape costs have been cut by $2 billion a year and there are three free trade agreements that mean that 95 per cent of our merchandise exports to our biggest markets will be tariff-free. But there is more! The best budget ever for small business gave the biggest tax cuts ever for small business. Good news for small business: they have just passed the Senate.

Mr Perrett interjecting —

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

The member for Moreton is warned!

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

So this government is not just talking; we are delivering for the small businesses, for job creators, of Australia.