Murray Watt (Queensland, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister representing the Prime Minister, Senator Brandis. I refer to the Prime Minister's comments at the Business Council of Australia dinner last week, where he admitted that, under the coalition government, economic reforms would result in 'winners and losers'. I also refer to the Turnbull government's May budget, which gave millionaires a $17,000-a-year tax cut and big business a $50 billion tax cut. Why are millionaires and big business the winners under Mr Turnbull?

George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Link to this | Hansard source

It never ceases to amuse me to hear the Australian Labor Party asking questions about economic management. Economic management, of all things, is their special subject—their special subject at which they were so infamously unsuccessful during six long, tedious and fractured years in government. The reality, Senator Watt, is that economic growth under this government is strong. The economy is growing at 3.3 per cent, faster than any of the G7 economies and over double the speed of the Canadian economy, the G7 economy with which the Australian economy bears the closest comparison.

The unemployment rate, at 5.6 per cent, is the lowest that it has been in three years. To put jobs growth into perspective, around twice as many new jobs have been created in the last 12 months than in Labor's last 12 months in office. Consumer confidence is buoyant. The ANZ's weekly measure of consumer confidence remains at the high rate of 118.2 points—that is above the long-term average. It has been above the long-term average for every week of the last six months. Exports are strong. Exports of goods and services from Australia are 9.6 per cent higher than they were a year ago—the fastest yearly growth rate in 16 years. Let me say that again: it is the fastest yearly growth rate in exports in 16 years. International education in particular is playing an extremely important role in our services exports. So far this year, 328,000— (Time expired)

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

Senator Watt, a supplementary question?

Murray Watt (Queensland, Australian Labor Party) Share this | Link to this | Hansard source

I refer to the Turnbull government's family payments cuts, which will leave couples with a single income of $65,000 and three children in primary school $1,747 a year worse off. Are these the Australians Mr Turnbull was referring to as losers?

George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Link to this | Hansard source

The government remains committed to providing parents with more choice and opportunity for work and for children, with high-quality early childhood education through the Jobs for Families Child Care Package. Senator Watt, you probably do not appreciate the fact that the current system is not working for families and is in need of significant reform.

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

A point of order, Senator Wong?

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

The question was not about child care; it was about family payment cuts.

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

Thank you, Senator Wong. I remind the Attorney-General of the question.

George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Link to this | Hansard source

The government will invest more than $40 billion in child-care support over the next four years, including more than $3 billion in additional—

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

Pause the clock. A point of order, Senator Gallagher?

Katy Gallagher (ACT, Australian Labor Party) Share this | Link to this | Hansard source

The supplementary question was about family payments, which are different to child care.

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

Thank you, Senator Gallagher. The Attorney-General has 14 seconds in which to complete his answer.

George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Link to this | Hansard source

The Australian government is committed to ensuring the policy settings are correct. We are investing where we need to invest to ensure that Australian families— (Time expired)

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

Senator Watt, a final supplementary question?

Murray Watt (Queensland, Australian Labor Party) Share this | Link to this | Hansard source

I refer to the Turnbull government's family payment cuts—not child-care cuts—which will leave a single mother with an income of $65,000 and two children in high school $3,000 a year worse off. Isn't it clear that, under the Turnbull government, the winners are big business and millionaires, and the losers are working- and middle-class Australians?

George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Link to this | Hansard source

That is absolutely not the case. The winners are all Australians who will benefit from a prosperous economy, and that is what the government is determined to deliver. It may have escaped those in the Australian Labor Party, but, when you reduce the costs of doing business, when you reduce the costs imposed on Australian small- and medium-sized businesses—and larger businesses as well—you give those companies the opportunity to employee more Australians. That is precisely why, during the federal election campaign, the government announced an enterprise tax plan front-end loaded towards small businesses but ultimately directed at all Australian businesses—so those businesses will have the opportunity to employ more Australians and generate more economic activity, more economic growth and higher wages.