Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

Senator Conroy is asking whether it is going well. It is actually going well. The economy is strengthening. In 2014, the economy grew at 2.7 per cent compared to the 1.9 per cent the year before. Jobs growth is strengthening. In 2014, more than 210,000 new jobs were created across Australia. That is 20 times as many as the year before. We are on track to deliver on our commitment of one million new jobs over five years. The good news does not end there. Australia's retail trade numbers have now risen for seven consecutive months to be a pleasing 4.1 per cent higher through the year.

We are also slowly but surely working to get the budget back under control. In fact, the budget position is at least $4 billion better off over the forward estimates than what it would have been under Labor. None of this has happened by accident. We have worked to strengthen the economy by getting rid of Labor's carbon tax, which was destroying jobs and which was pushing up the cost of electricity for families and business. We are creating a stronger economy. We are strengthening the economy by scrapping the mining tax; by reducing red tape costs for business; by signing free-trade agreements with South Korea, Japan and China; and by boosting investment, trade and jobs. We are strengthening the economy by rolling out environmental approvals for projects worth about $1 trillion. We are boosting economic growth by rolling out infrastructure investment. (Time expired)