Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

My question is to the Minister representing the Prime Minister, Senator Abetz. I refer to the recent release of a publication by the Minister for Trade and Investment, Mr Robb, entitled Why Australia: benchmark report 2015, which states:

With more than 23 years of uninterrupted annual economic growth, a AAA sovereign risk profile and diverse, globally competitive industries, Australia remains well placed to build on an impressive record of prosperity.

I ask the minister: does that sound like a budget emergency?

Honourable Senators:

Honourable senators interjecting—

Stephen Parry (President) Share this | Link to this | Hansard source

Order on both sides!

Eric Abetz (Tasmania, Liberal Party, Minister for Employment) Share this | Link to this | Hansard source

What the honourable senator has outlined is the factual circumstance of the Australian economy. Does that mean that there are not problems on the horizon? Of course not. That is where the most failed finance minister in Australian history deliberately seeks to obfuscate and convince the Australian people that she who delivered the six biggest budget deficits in Australian history somehow has the solutions to Australia's problems. The simple fact is that the Australian Labor Party, not content with delivering us the six highest deficits, left us on a trajectory to even higher deficits. Our task now is to try to reduce those even higher deficits down lower. So, do we have a huge economic budget task ahead of us? Yes, we do.

What makes that task more difficult is that the Australian Labor Party went to the last election and said to the Australian people, hand on heart, 'Believe us: we are economically responsible and we will take $5 billion worth of cuts,' and then, when we said, 'We will match that $5 billion worth of cuts exactly,' and put that to the parliament after the election, do you know what they did, Mr President? To a man and woman, each and every one of them, lemming like, did what Mr Shorten told them to do and voted against their own savings policies that they had taken to the Australian people. That is the economic credibility of the Australian Labor Party, and there is no better exemplar of that than the failed finance minister herself. (Time expired)

Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

Mr President, I ask a supplementary question. I quote again from Mr Robb's report, which states:

… the Australian Government's net debt would be 16.6 per cent of GDP in 2015—

which:

… reinforces Australia's healthy financial position and sound economic credentials …

Noting that this net debt quoted by Mr Robb is in fact higher than the peak net debt under the former government, does the minister agree with Mr Robb that debt is low?

Eric Abetz (Tasmania, Liberal Party, Minister for Employment) Share this | Link to this | Hansard source

The Australian economy does have sound credentials, and the reason for that is that, after the Howard-Costello government, the Labor Party were given a legacy of budget surpluses and future funds, all of which were dissipated under Labor—and then the debt crisis grew. We said to the Australian people that we would deal with that situation to ensure that our economic credentials remain intact and that is what we are doing, but no thanks to the Australian Labor Party.

Stephen Parry (President) Share this | Link to this | Hansard source

Pause the clock.

Claire Moore (Queensland, Australian Labor Party, Shadow Minister for Women) Share this | Link to this | Hansard source

Mr President, I rise on a point of order, again on direct relevance to the specific question, which was quite straightforward: does the minister agree with Mr Robb that debt is low?

Stephen Parry (President) Share this | Link to this | Hansard source

Thank you, Senator Moore. The minister has 20 seconds in which to answer the question.

Eric Abetz (Tasmania, Liberal Party, Minister for Employment) Share this | Link to this | Hansard source

If the Manager of Opposition Business is so convinced that her point of order is correct, she will agree to the tabling and incorporation of the full question by the Leader of the Opposition in the Senate in the Hansard, which will disclose how false Senator Moore was with her point of order, seeking to obfuscate— (Time expired)

Claire Moore (Queensland, Australian Labor Party, Shadow Minister for Women) Share this | Link to this | Hansard source

Mr President, on a point of order: I am more than happy to table the question—

Opposition senators interjecting—

Stephen Parry (President) Share this | Link to this | Hansard source

Just a moment, Senator Moore. Order, on my left!

Senator Cameron interjecting—

Order, Senator Cameron!

Honourable senators interjecting—

Order, on both sides! Senator Moore, did you still wish to pursue a point of order?

Claire Moore (Queensland, Australian Labor Party, Shadow Minister for Women) Share this | Link to this | Hansard source

Just that I am more than happy to table the question, Mr President.

Stephen Parry (President) Share this | Link to this | Hansard source

Thank you, Senator Moore.

Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

Mr President, I ask a further supplementary question. I refer again to Mr Robb's report, which states:

Australia has enjoyed a sustained period of labour productivity growth … particularly … in 2012-13 and … 2013-14.

Can the minister confirm Mr Robb is correct to highlight the contribution of Labor's Fair Work Act to increased productivity in this nation?

Eric Abetz (Tasmania, Liberal Party, Minister for Employment) Share this | Link to this | Hansard source

Australia, in general terms, has relatively good labour productivity growth. Having said that, the difficulty with the Australian Labor Party is they do not understand that a good country will always seek to strive to do better, and that is where the Australian Labor Party are stuck in a rut. Be it financial, they have no aspiration to do better. Labour productivity? No aspiration to do better. Reduced cost of living? No aspiration to do better. More jobs for the Australian people? No aspiration to do better. We have that aspiration on this side, and that is what we dedicate ourselves to day after day, hour after hour, whilst we have the privilege of being the government—

Stephen Parry (President) Share this | Link to this | Hansard source

Pause the clock.

Claire Moore (Queensland, Australian Labor Party, Shadow Minister for Women) Share this | Link to this | Hansard source

Mr President, on a point of order—and I will table this question as well. The only question that was asked was: is Mr Robb correct to highlight the contribution of Labor's Fair Work Act to increased productivity?

Eric Abetz (Tasmania, Liberal Party, Minister for Employment) Share this | Link to this | Hansard source

No, it wasn't.

Claire Moore (Queensland, Australian Labor Party, Shadow Minister for Women) Share this | Link to this | Hansard source

That was the question. We would like to hear it mentioned in the answer.

Ian Macdonald (Queensland, Liberal Party) Share this | Link to this | Hansard source

Mr President, on the point of order: how can Senator Moore table a question that is allegedly being asked by Senator Wong?

Stephen Parry (President) Share this | Link to this | Hansard source

There is no point of order. Minister, had you concluded your answer?

Eric Abetz (Tasmania, Liberal Party, Minister for Employment) Share this | Link to this | Hansard source

Yes.