Julian Simmonds (Ryan, Liberal National Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Following his meeting with the G20 finance ministers, will the Treasurer outline to the House how the Morrison government's strong economic plan is providing stability and certainty to Australia and is the Treasurer aware of any risks associated with alternative policies?

Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I thank the member for Ryan for his question and note his experience as a councillor with the Brisbane City Council and his commitment to strong economic management. When we came to government, unemployment was rising, investment was falling and we know that the Australian economy was not heading for a surplus budget, as it is today. Australia is now in its 29th consecutive year of economic growth. We have a credit rating of AAA. We have the first current account surplus since 1975. Welfare dependency is at a 30-year low and we have seen nearly 1.5 million jobs created since we came to government. In fact, in the last jobs numbers, for the first time ever we saw jobs growth in each month for the last three years. We have a record number of Australians in work, a record number of women in work and a record participation rate. In fact, employment growth is more than three times what we inherited from the Labor Party and more than double the OECD average.

We will continue with our economic plan, an economic plan that's seen the most significant tax cuts in more than two decades, the $100 billion pipeline of infrastructure, more investment in apprenticeships and skills, and more trade agreements.

I'm asked if there are any alternatives. We know that the former member for Lilley and mentor to the now member for Rankin said this: 'It's important that our political leaders work hard to build confidence in our economy and not be out there talking down the economy.' Yet that is what the Leader of the Opposition did last week. He compared the Australian economy to Greece's. Shame on you, Leader of the Opposition. The Leader of the Opposition used the language of the GFC.

The Labor Party showed they were unable to deliver a budget surplus when last in government. A budget surplus and a strong budget position are not about a bookkeeping exercise—

Ms Plibersek interjecting—

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

The member for Sydney is now warned.

Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Link to this | Hansard source

as the BCA have said, but rather it restores confidence in the stewardship of the nation's finances and makes the country stronger. That is what the peak business community of Australia has said. We will continue to deliver strong jobs growth, we will continue to preside over an economy that is growing in its 29th year, and we will continue to lower taxes so that Australians can earn more and keep more of what they earn. (Time expired)