Luke Gosling (Solomon, Australian Labor Party) Share this | Link to this | Hansard source

The International Monetary Fund's World Economic Outlook has slashed Australia's growth forecasts, and this makes a mockery of Treasurer Josh Frydenberg's claims that the Morrison government has the right economic policy settings for our nation. Collapsing confidence and weak growth are the inevitable consequence of this coalition government, which has a political strategy, sure, but is missing an economic strategy. It is having devastating impacts across our nation, including in Darwin and Palmerston in my electorate in the Top End of the Northern Territory. Territorians are worried about the state of the economy, but the Prime Minister is continuing to pretend that there is not a problem. Delays to our $100 million city deal are a big problem. Kakadu funding that is out on the never-never is another big problem. Defence spending promises that continue to be revised down are another massive problem for our economy. The Prime Minister should know that cutting 25 per cent of the Commonwealth Public Service in my electorate is not helpful. There have been widespread calls, including from the Reserve Bank, that the Prime Minister and the Treasurer should start to fast-track infrastructure investment. There's plenty of that investment that's been promised for the Northern Territory, so they should just crack on with it.