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

It is self-evident that business confidence will be improved if the parliament continues to support the government's plan for stronger growth and to repair the budget. Over this past fortnight the government has been able to make progress when it comes to budget repair. We have been able to reach agreement in relation to budget repair measures to the value of about $10 billion, which have gone, or I expect will go, through the parliament during this fortnight. All of that is an important part of strengthening growth, creating better opportunities for people to get ahead and improving business confidence.

I will provide some further information about what has been happening in the economy. The seasonally adjusted measure of sales has been rising for the third straight month—up one per cent in May. It was the strongest three-month gain in two years, and annual growth went to the six-month high of 8.4 per cent. This is all good news, and the Labor Party does not like to hear good news.