Russell Broadbent (Monash, Liberal Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Treasurer, will you update the House on how the latest JobKeeper numbers and other key data showing Australia's economic comeback from the global recession is well underway, and is the Treasurer aware of any alternative approaches?

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

I thank the member for Monash for his question. I know that he is very proud of his electorate and their resilience through the most challenging of times. The people of Monash, around 60,000 taxpayers in Monash, will get tax relief as a result of the policies we announced in this year's budget and have subsequently legislated through the parliament. Around 22,000 pensioners and others on income support in the electorate of Monash have got two $750 payments as a result of the policies of this side of the House, and around 5,000 businesses in Monash have been able to access the JobKeeper program.

The JobKeeper program has been a remarkable program. They're not my words; they're the words of the Governor of the Reserve Bank. It has helped keep that formal connection between employers and employees. We heard recently from the RBA that JobKeeper helped save at least 700,000 jobs, and we heard from Treasury that but for the JobKeeper program the unemployment rate would be five points higher. In September 3.6 million Australians were on JobKeeper. We have the most recent ATO data for the month of October, and that shows that in October there were two million fewer Australian workers on JobKeeper compared to September and 450,000 fewer businesses on JobKeeper than in September. That is a sign that Australia's economic recovery is well underway and that momentum is building.

We have heard right across the country wonderful stories of how JobKeeper has kept that formal connection between employers and employees. Whether it is Flinders Island Aviation in Bass, Deli Chicchi in the electorate of Curtin or the F45 gym in the electorate of Ryan, there are stories right across the country of how JobKeeper has supported Australians to stay in a job. Recently I was in Western Sydney, in the electorate of Lindsay, where I met with a crane driver and others who have graduated from JobKeeper, and I was in the electorate of Sturt meeting with a husband-and-wife team who run a cafe in the electorate of Sturt who have graduated from JobKeeper. Right across the country we are seeing the graduation out of JobKeeper.

These numbers go together with the other positive economic data we have recently seen: 178,000 jobs created last month; the effective unemployment rate coming down from 9.3 to 7.4 per cent; consumer confidence up 11 of the last 12 weeks; and Australia's AAA credit rating reaffirmed. The Morrison government is getting on with creating jobs across the country. (Time expired)