Hollie Hughes (NSW, Liberal Party) Share this | Hansard source

Senator Watt comes in with the interjections and the smiles across the chamber, but really all he's looking for is to see the negative in anything—talking down the economy, talking down business, talking down all the states and all the work that's being done, even in his beloved northern Australia, with all of the work that the fabulous Minister Canavan is doing to support northern Australia. We can do that work because we have an outstanding economic record. Managing the economy is what this government does best.

But let's talk about the fact that it is the 29th consecutive quarter of annual economic growth. This is despite a raft of challenges. Senator Scarr was talking about some of the international headwinds, but we also need to consider the ongoing international trade tensions. We have two of the largest economies in the world currently in a stand-off, and this is obviously having an impact globally. We are in the centre of that, with considerable trading partners in both of them. It is therefore important that we walk an incredibly tight rope, and that is being done incredibly effectively by the Morrison government.

We also see a housing market downturn. This is turning around, but that is something that's occurred particularly in the major centres. But, of course, one of the other significant impacts on our economy, something that I'm not sure those opposite fully understand, is the drought. As Senator McKenzie so eloquently explained, never, prior to their new-found love of farming and drought, were those words so very frequently uttered by anyone opposite. The drought is having a direct impact on our economy, but this would be worse with $387 billion worth of new taxes, which, as far as anyone can work out, are still Labor policy. No-one really knows; we're not quite sure. I think the opposition leader is too busy looking over his shoulder at the member for Maribyrnong, who I think wants his old job back. The Australian people and the economy have dodged a bullet by avoiding a Labor government.

But what does the strong economy mean for everyday Australians? Talking about the drought, I'd just like to take a moment to look at some of the drought initiatives that, because of our economic position, we have been able to implement. Since the budget, there has been an additional $355 million to step up our drought response, and the latest announcement will triple this to more than $1 billion since the election as well as more than $1 billion in new interest-free loans. What does this mean for farmers? It means that the farm household allowance can now be extended to support four years in every 10, not just four years over a lifetime. We've also seen an ability to relax the off-farm income, offsetting it and increasing the cap to $100,000. This is ensuring that people are able to stay on their farms and keep food on the table as they endure one of the worst droughts in our history—in the last decade and century. If you also look at what's happened recently with the terrible bushfires, unlike those opposite we have been able to offer an assistance package, in line with the states, of $48.25 million. That's a bushfire recovery package that's only possible because of a strong economy.

Those opposite and Senator Watt—who, unfortunately, is no longer here—would fully understand the levy that had to be implemented to pay for the natural disaster recovery in Queensland because the government, under Labor, could not afford the package. That's not how it is over here. Whereas you guys opposite took drugs off the PBS because you couldn't afford to list any more, over here we are listing one new drug every day, and that's how everyday Australians are benefiting from a strong economy. (Time expired)