Andrew Hastie (Canning, Liberal Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer update the House on the progress made to repair the budget and arrest debt? What needs to be done to keep the budget on its path to balance, protect Australia's AAA credit rating and create jobs for hardworking Australians?

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I thank the member for Canning for his question and his keen interest in restoring the budget to balance, which is a goal shared and a practice which everyone on this side of the House is pursuing with great gusto. Under the budgets of those opposite in the six years they were in power, their deficits were 78 per cent—almost 80 per cent—higher than the budgets that were being brought down by those on this side of the House. We know that the rate of growth and expenditure under those opposite under their budgets was 4.2 per cent and, under the budgets brought down by this side of the House, that rate of growth has fallen to 1.6 per cent. So we are getting expenditure under control and we are returning the budget to balance. It is currently projected to achieve that in 2021.

Already in this term of parliament, following the election, as the Prime Minister has just reminded the House, we have been able to secure the passage of more than $20 billion in budget improvement measures, and today we will be making further progress on that front—but not with the help of those opposite.

Ms Plibersek interjecting—

I hear the interjection from the member for Sydney saying, 'You're welcome.' They are not supporting the government in budget repair, They stand as a bulwark against budget repair, and the evidence on point today is their absolute commitment to try to give foreign workers in this country a zero per cent rate of tax while forcing Australians to pay for that. In the 2015-16 budget, there was a measure which would have contributed to the budget some $540 million on the backpacker arrangements. In the 2016-17 budget, that was upgraded to $760 million because of the addition of a year. As a result of the measures that this government has been able to agree with the crossbenchers in the upper house, we will achieve $640 million of the $760 million that was set out in the 2016-17 budget.

Those opposite were prepared to write off $760 million in revenue despite coming in here every other day and wanting to jack up taxes on homeowners, investors and small business. When you want to tax foreign workers, 'Oh no, we can't do that,' says the federated union of foreign worker representatives sitting opposite. They say, 'No, we want Australians to pay $760 million in higher taxes' so they can have a foreign worker free-for-all on the taxpayer. Those opposite have worked against the government tooth and nail to protect the tax rights of foreign workers and they still insist to this day that they should pay no tax. (Time expired)