Angus Taylor (Hume, Liberal Party, Shadow Treasurer) Share this | Link to this | Hansard source

There's new employment data out today and, whilst it's good to see some strength in the labour market, what sits underneath the numbers is an indictment of Labor's failed economic management. Australians are working harder for less. More people are looking for work, and Australians are working more hours to make ends meet. It's encouraging to see people in jobs, but we know that the number of unemployed Australians is climbing. The underutilisation rate has climbed, showing Australians want to work more to pay their bills but, increasingly, they can't find the hours or the jobs due to the anaemic growth in GDP per capita under Labor. This is a diabolical combination. High prices and low growth are signs of a weak economy. It's an indictment of our Treasurer and a lack of economic leadership under Labor.

The fact is that we are absolutely at the back of the pack in dealing with inflation. As we've seen since December last year, we're the only one of the major countries around the world where inflation is going up, not down. The fall in our living standards is worse than that of any major advanced country in the G7. Our standard of living has fallen eight per cent since Labor came to power. This is an indictment of this Labor government.