John Alexander (Bennelong, Liberal Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer update the House on the importance for governments of developing and implementing sensible and consistent economic policies to drive economic growth and deliver more and better-paid jobs for hardworking Australians? And is the Treasurer aware of any alternative approaches?

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

I thank the member for Bennelong for his question. Welcome back to the member for Bennelong! Our government has a strong economic plan—a strong economic plan for jobs and growth that was endorsed by the Australian people at the last election, when this government was re-elected to get on with implementing that plan. We are getting results with our jobs and growth plan, as we know, with some 1,100 jobs and more created every single day. You'll be interested to know that more than half of those jobs, more than half of those jobs—

An opposition member: Boring!

I hear, 'It's boring.' This is 'boring'—boring for the member for Lindsay! She'll be interested to know that more than half of those jobs are for women. She'll be interested to know that female participation in the labour force is at its highest level on record. More than that, not only are women not left behind by this government, but one in five of those jobs is going to older males, those men aged over 55.

The NAB quarterly business survey was out today, and that has further evidence, with both business conditions and business confidence at below long-term-run levels; expected new capital expenditure is at 10-year highs; expected new employment is at 10-year highs. And that's why we're sticking with this plan. That's why we're sticking with the economic compass that is followed by the Liberals and Nationals, on this side of the House, that leads us to more jobs and to more growth. That's why we're sticking with our convictions on the economy. The only convictions the Labor Party know are the convictions of Eddie Obeid, Ian Macdonald, Craig Thomson and Labor thugs—those that that side of the House give life membership to. Those are the convictions they know about.

That mob over there have lost their economic compass. They don't know where they're heading. But there are some who are prepared to admit it. We read in the Fairfax press today about a Labor MP saying that the Leader of the Opposition is 'tilting left', and 'the party should be playing up the contrast' with the Greens. Well, good luck with that! There is no difference between the Greens and the Labor Party now when it comes to economic policy. Higher taxes, more regulation, higher deficits, uncontrolled spending, anti trade, anti mining, anti jobs—that's the Greens agenda; that's the Labor agenda. You can't pay your workers more if you've got to pay the government more. And that's what the Labor Party did today when they rejected, once again, a plan that has already demonstrated its worth for companies under $50 million. The next cab off the rank is companies of $50 million to $100 million, and they say, 'No tax cut for you.'