Chris Bowen (McMahon, Australian Labor Party, Shadow Treasurer) Share this | Link to this | Hansard source

My question is to the Treasurer. Does the Treasurer agree with the statement yesterday by the now Prime Minister when he said:

It's clear enough that the government is not successful in providing the economic leadership we need.

Ms Macklin interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Jagajaga has been warned.

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I thank the honourable member for McMahon for the question—entirely unpredictable, of course! The honourable member for Wentworth is perfectly entitled to make a statement, as he did yesterday, about how we can do better. Do you know what? We can always do better. But I will tell you what—we are doing a hell of a lot better than the Labor Party. Because, when the Labor Party left office, only 2,000 jobs a month were being created in Australia, and at the moment it is 21,000 jobs a month.

When Labor left office, they left a $48 billion deficit.

Dr Chalmers interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Rankin will cease interjecting.

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

We are getting that down to around $35 billion and getting it back on a credible path to surplus. We have reduced expenditure that Labor left behind by $50 billion, and along the way we have had to make some incredibly difficult decisions about the size of the Public Service and reducing the number of quangos, committees and inquiries and so on that were undertaken—

Mr Husic interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Chifley is warned.

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

by the previous government. But ultimately it comes down to the prosperity of the Australian people, and the economy today is $68 billion bigger than the economy that we inherited from the Labor Party.

In relation to business surveys, I note that, in the National Australia Bank Monthly Business Survey, business confidence has always been in positive territory since we have been in government. It currently sits at plus one. In Labor's last year of government, business confidence was negative throughout the year. It was negative throughout the year, and it has been up under us ever since we were elected. The same NAB business survey says that business trading conditions sit at plus 20, the second highest level in over seven years. And Dun & Bradstreet noted just a fortnight ago:

… we're seeing robust levels of optimism across all sectors in the Australian business community.

I would be the first to say that we can always do better, because on this side of the parliament we aspire to do the very best by the Australian people.

Dr Chalmers interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Rankin is warned.

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

But everything we do and everything we have done has been a hell of a lot better than a very bad Labor government.