Phillip Thompson (Herbert, Liberal National Party) Share this | Link to this | Hansard source

My question is to the Prime Minister. Will the Prime Minister please outline to the House how the Morrison government's plan for economic recovery builds on what's been working to secure our way out of the COVID-19 pandemic?

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

I thank the member for Herbert for his question. I also thank him for his service and I thank him for his great support of the resources sector in northern Australia. This budget is a plan to secure Australia's recovery in the midst of a global pandemic that continues to rage around the world. I notice the shaking of his head by the deputy speaker who sits up the back there. He may not know there's a global pandemic going on. It might be news to him. It certainly must be news to those opposite.

But we know Australia's recovery plan in this budget is there to address the great challenges of this pandemic and the global recession that it has caused, 30 times worse than what we saw in the global financial crisis. The action our government has taken is to back Australians, because we see Australians as the key ingredient that has seen Australia come through this pandemic today and will see us go forward and ensure that we get through this terrible situation.

I will quote none other than the governor of the Reserve Bank himself, who on 7 May indicated what is working in this country, how it is working and why we need to keep doing what's working. The RBA statement on monetary policy on 7 May said this:

The Australian economy is transitioning from recovery to expansion phase earlier and with more momentum than anticipated.

…   …   …

… this snap-back in activity—

Interesting choice of words from the Reserve Bank—

has been supported by extraordinary fiscal and monetary support.

We need to keep doing what's working in this country, because it is working. That is what the plan is doing—keeping taxes low so businesses and workers can keep more of what they earn.

We know what the Labor Party want to do with taxes. They were pressed on this today. They can't give any guarantees, because we know how much they like to increase taxes on working Australians and hardworking small businesses. We are backing investment, supporting small and medium-sized enterprises, boosting skills and apprenticeships, developing and supporting our manufacturing industries and supporting Australians build and own their own home through the very successful HomeBuilder program, which the Labor Party scoffed at and mocked. They were mocking Australians seeking to build and own their own home. Securing Australia's recovery—that's what this budget will deliver.

Dr Chalmers interjecting —

Mr Littleproud interjecting —

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

I will just say to the member for Rankin and the Minister for Agriculture that they can cease their conversation across the chamber now.