Paul Scarr (Queensland, Liberal Party) Share this | Hansard source

I won't speak for much longer in relation to this matter. But I want to make one point in relation to the Economic Recovery Package (JobMaker Hiring Credit) Amendment Bill 2020 that I think is very important for the Senate to consider. The JobMaker hiring credit is one aspect, one element, amongst a matrix of elements that are part of the budget process that are being put forward to encourage all sectors of our economy to employ people and work their way through the pandemic. The response from consumers and from the business sector, across the board, to the 2020-21 budget was extraordinary. The ANZ Australian job advertisements rose 9.4 per cent in October, following an 8.3 per cent increase in September, and have now regained more than three-quarters of the fall recorded in March and April. According to the NAB business survey, business conditions rose seven points in September. According to Alan Oster, NAB Group chief economist:

Confidence increased in the month, building on the gains of last month, and is now well above the trough in March.

The monthly Westpac-Melbourne Institute Index of Consumer Sentiment rose by 11.9 per cent in October after the release of the federal budget. Today, the ANZ-Roy Morgan Australian Consumer Confidence results came out through a media release, which showed:

A sharp improvement in 'time to buy a major household item' index has pushed consumer confidence above the neutral level for the first time since early March. On a weekly basis, consumer confidence rose 3.2 per cent.

The budget was extraordinarily successful in generating a positive sentiment across the country, in relation to consumer views of the economy, business views of the economy and increasing confidence across the economy. The JobMaker hiring credit is a key part of that strategy to increase consumer sentiment and get business hiring people again.

I was at an Ipswich Chamber of Commerce event on Saturday, where they awarded awards of excellence to different small businesses. I was happy to move around that audience and tell them about the programs available to assist them in employing people, in employing more young people. So there is a real opportunity there. There is a real opportunity for us to build on that sentiment. I would hate to see this chamber vote against this legislation and thereby do something to take away from that positive sentiment, erode that positive sentiment and send a negative message.

I ask colleagues in this chamber to consider the broader context of this debate—it is part of a bigger picture; it's part of a range of initiatives, from tax policy to infrastructure spending and other initiatives—and to look at this bill in the context of that debate.