Mark Bishop (WA, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister representing the Treasurer, Senator Wong. Can the minister outline for the Senate how the government has supported Australian jobs and delivered economic growth? How will it keep delivering for working people into the future?

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

Making the right economic choices for today and for the future is the core business of government, and that is what this government is focused on. When faced with the global financial crisis, the Labor government made the decision to support jobs, to support small businesses, to support families and to ensure that our economy kept growing.

Opposition Senators:

Opposition senators interjecting—

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

Over the din of negativity that always is presented by those opposite, let us have a look at the facts. Let us have a look at the economic facts. This economy is 11.2 per cent larger than when Labor came to office. The UK has contracted in the same period. Germany is 2.7 per cent larger and the US about 1.8, and Japan is marginally smaller. In other words, despite the relentless negativity and the talking down of the Australian economy by those opposite, the facts are that, when you compare this nation to the rest of the world and, in particular, other major advanced economies, the Australian people and the Australian economy have performed well.

We also remember that those opposite opposed the stimulus packages that the government put in place. Remember how many jobs those packages saved: 200,000 Australian jobs. There are 200,000 Australians and their families who those opposite would be happy to put on the economic scrap heap.

Honourable senators interjecting—

Absolutely shameful—I will take that. It is absolutely shameful that those opposite could say they are for Australian families. What they should go out and say is: 'Actually, our economic policy is to put 200,000 Australians out of work. That is the position we take as the opposition.'

Mark Bishop (WA, Australian Labor Party) Share this | Link to this | Hansard source

I have a supplementary question to the minister, Mr President. Can the minister outline the challenges facing the Australian economy and how the government is managing all of these challenges?

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

It is the case that the government needs to look to the future as well as looking to the past. I tell you what: that is where we know the opposition have no plan. There is no plan for the future from the other side. In contrast, what we have is an economy here in this country that is growing fast and is projected to grow faster than any other major advanced economy worldwide. But what do we hear from the opposition when they are confronted with this? Just more relentless negativity from those opposite. Of course, one of the reasons why as a Labor government we want a strong economy is that we want to ensure we can have a fairer Australia—a fair society. Let us remember what we have delivered: the biggest boost to pension in Australia's history, the first national paid parental leave, increases to the childcare rebate, doubling of the investment in infrastructure, the abolition of Work Choices— (Time expired)

Mark Bishop (WA, Australian Labor Party) Share this | Link to this | Hansard source

I have a further supplementary question to Minister Wong, Mr President. Can the minister further update the Senate on any significant risks in maintaining responsible economic management to deliver for the future? Is the minister aware of any alternative approaches that have been put forward?

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

I would like to say I was aware of an alternative approach, but the only alternative approach that we can find is 'just say no' from the other side: 'Just say no to everything. Let's talk down the economy. Let's never put forward any coherent policy. Let's not tell the Australian people about the $70 billion worth of cuts that we would put in place were we to win the next election. Let's not tell them about that.' The only economic policy that they put forward is utterly incoherent. This is the party that opposed a tax cut for small business but wants to increase company taxes to pay for a Rolls Royce paid parental leave scheme that Mr Abbott thinks he needs and thinks is politically necessary—economically incoherent but, worse, relentlessly and destructively negative and always talking down the Australian economy.