Melissa McIntosh (Lindsay, Liberal Party) Share this | Link to this | Hansard source

My question is to the Prime Minister: Will the Prime Minister outline to the House how the Morrison government's economic plans and stable management are ensuring that we can protect Australians and our economy from global challenges like the coronavirus outbreak?

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

I thank the member for Lindsay for her question. The government, since our election in 2013, has worked incredibly hard to put Australia in a more secure position, to ensure that we've addressed the structural balances that were needed in the budget to ensure that at a time like this, in a year like this, when we have dealt with bushfires and continue to do so, dealing with drought which has been ongoing for many years, and particularly now as we address the very serious issue of the coronavirus—a health crisis globally that has very significant impacts—we can stand before the Australian people with great confidence and say to them that while we are not immune, as this virus has now hit some 75 countries, we're as best prepared as any country can be. A key reason for that has been the careful financial stewardship of this nation's finances over the last six years. We have a health system that Australians can be confident in. We have borders that Australians can be confident in, and we've invested in the border management that enables us to respond to the issues we are currently facing swiftly. When it comes to the economy, we have done the same.

On the issue of this virus, we have got ahead early. We are working together with states and territories and others to ensure we stay ahead, and that, in particular, means working closely with the Reserve Bank. Earlier this week, as I said yesterday, the Treasurer and I and the finance minister hooked up with the Governor of the Reserve Bank and the deputy governor to ensure that we are completely aligned as we understand the economic impacts of this health crisis and that we respond accordingly. The bank, of course, will make its response, and the government is preparing its response.

Dr Chalmers interjecting—

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

The member for Rankin.

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

I would simply say, as I did at the press conference earlier today, that the Reserve Bank will consider their response today and whatever decision they make I would ask the big banks to respond to and pass on in full—whatever decision the Reserve Bank made today—in the same way that Qantas stepped up to the plate when we asked for their support to get Australians out of Wuhan and to get them out from the Diamond Princess. I want to thank Qantas again for the great work they did. I simply ask that the big banks do exactly the same thing by passing on the full impact, should the bank make that decision. But, over these past six years with jobs growth and with ensuring that we've fixed the structural balance of this budget so Australians have been able to get jobs and restore their own balance sheet, we can look through this current crisis and we can look to the other side and we can know that the Australian economy can bounce back even better on the other side. It will because of the measures we have put in place and will put in place that will be targeted, that will be measured, that will be scalable. They'll focus on jobs. They'll focus on keeping businesses in business and ensuring Australians bounce back.

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

The Prime Minister's time has concluded.