Carol Brown (Tasmania, Australian Labor Party, Shadow Assistant Minister for Infrastructure and Regional Tourism) Share this | Hansard source

I'm not sure how much it takes to invigorate Senator Scarr, but I can tell you: the morning note, as I think this is called—it probably changes once we hit afternoon, just like most of the things that this government says—is not invigorating Australians. The government may talk a big game on the economy, but from what we've seen today in their answers, in the contributions thus far in this debate, what is actually in their misplaced talking points, the Deloitte report and their inaction on banks, their talk doesn't reflect reality. That's the point in the discussion around the comments by Deloitte. What's in the speaking notes does not reflect reality. It doesn't reflect the reality of Australians in regional areas struggling to get a job, the reality of workers and families dealing with stagnant wages and rising costs of living or the reality of small businesses that have been promised so much by the government, who claim to have their interests at heart despite their actions showing the complete opposite.

As we heard this morning, the latest Deloitte Access Economics Business outlook is forecasting below-trend growth this financial year: growth of just 2.2 per cent, which is well below the government's forecast. Most damningly, the report states that 'the pain in our economy has been home grown'. It also says that we're unlikely to see wages accelerate or see unemployment fall much over the coming year. This is terrible news for Australian workers and jobseekers. The government has failed to provide confidence to the Senate today in the answers that we received—and, I expect, has failed to provide confidence to Australian business and workers—that it has the foresight, the capacity and the ability to lift growth, create jobs and boost wages. Indeed, the Deloitte report went on to make it clear that the RBA has been doing all the heavy lifting, with dwindling capacity to move if it wishes to keep some flexibility in the system for monetary policy to deal with global shock.

It's time for the government to do its part and use the levers available to it to support Australian businesses, jobs and workers and get the economy moving. Yet all we see from the government are talking points in an attempt to paint a picture so far from reality. It reminds me of a song from the Rocky Horror Picture Show:

Rose tints my world

Keeps me safe from my trouble and pain.

Well, the rosy picture painted in the government's talking points may try and keep them out of trouble, but it does nothing to alleviate the pain experienced by Australians facing rising costs and dwindling pay. It's time the Australian people got some honesty from this government. It's time the Prime Minister and the Treasurer issued a budget with updated forecasts that reflect reality. This country is crying out for an economic plan that will reverse the collapsing confidence and finally spur along overdue wages growth. Instead, all we see is relentless wedge politics, blame-shifting and, embarrassingly, rosy talking points.

Let's make sure we never forget just how many Australians are doing it hard. This week is Anti-Poverty Week. There are three million Australians, including 739,000 children, living below the poverty line, living on less than 50 per cent of the median income—that is, 13.2 per cent of Australians or one in six Australian children. Where is the government's plan to tackle poverty and boost incomes? All of this comes from seeing record household debt, stagnant wages and banks that are refusing to pass on cuts to interest rates. If there's one thing that Australian people know about this Liberal government it's that they simply can't be trusted when it comes to standing up to the banks. This is a government that has had 12 months to consider a Productivity Commission report on the failures of banking competition, and this government has done nothing. (Time expired)