Clare O'Neil (Hotham, Australian Labor Party, Shadow Minister for Innovation, Technology and the Future of Work) Share this | Link to this | Hansard source

My question is to the Treasurer. Can the Treasurer confirm that recent data showed that, in the December quarter, construction work fell by three per cent and capital expenditure fell by 2.8 per cent? Can he also confirm that this was before the outbreak of coronavirus?

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

I'm very pleased to confirm to the House that, in the December quarter, construction by the public sector was up 0.7 per cent. That is higher through the year. This is the benefit of our $100 billion, 10-year infrastructure pipeline. I'm also pleased to inform the House that investment in equipment, plant and machinery was up 0.8 per cent in the December quarter, and this will feed into the national accounts later this week. I'm also pleased to inform the House that residential building approvals are up 2.7 per cent through the year. Mining capex is up 0.9 per cent through the year. The data that the honourable member was referring to suggests that capex for the 2021 year will be up by 6.8 per cent—and a 21 per cent rise in mining. This is in stark contrast to those opposite. Investment outside the mining sector fell by 10 per cent during Labor's time in office. Under the coalition, investment outside the mining sector has increased by 34 per cent.