Catryna Bilyk (Tasmania, 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 current Prime Minister, who said, on announcing that he would challenge the former Prime Minister, Tony Abbott, for the Liberal Party leadership:

It is clear enough that the government is not successful in providing the economic leadership that we need.

I refer to Mr Turnbull's series of failed thought bubbles for tax reforms: $50 billion in tax cuts to big business, which he will not even bring forward for debate in the parliament, and his bungled handling of the backpacker tax. Is this the economic leadership Mr Turnbull had in mind when he deposed Mr Abbott?

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

Senator Bilyk, thank you very much for giving me the opportunity to, on the last day of the parliamentary year, reflect upon the many achievements of the Turnbull government in the past year. With an election having been fought and won by Mr Turnbull, our national economic plan, our policies and our commitments have been endorsed by the Australian people. What a year of achievement it has been. In particular, what a period of achievement it has been for this Senate. The government is governing and the Senate is functioning effectively. We have delivered tax cuts for more than half a million middle-class Australians by ensuring that they were not pushed into higher tax brackets. We have passed important changes to Australia's superannuation system in securing $6 billion in savings and ensuring that the system is sustainable and fair for all Australians. In only a matter of months, we have delivered $20 billion of measures for budget repair.

Meanwhile, out of the chamber, we have expanded our big export trade deals by entering into an enhanced strategic partnership with Singapore, delivering $2 billion in new investment in Queensland, in particular, and more opportunities for our exporters. We amended the Fair Work Act to protect Victoria's volunteer firefighters from the CFA, we passed the registered organisations bill to ensure that union bosses are subject to the same transparency and accountability obligations as company directors, and of course we have now passed the ABCC bills to bring the rule of law to the construction sector. (Time expired)

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

Senator Bilyk, a supplementary question.

Catryna Bilyk (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

After that very mediocre response I refer to the ABS data showing Australia is experiencing the lowest rate of wage growth since the ABS started collecting data in 1998, the lowest workforce participation rate in more than 10 years and employment growth which has collapsed by half in only three months. Is this the economic leadership Mr Turnbull had in mind when he deposed Mr Abbott?

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

Senator Bilyk, what we mean by economic leadership is economic growth at over three per cent per year; strong growth in exports, up 9.6 per cent year on year to June 2016; strong growth in new dwelling construction, up by 10½ per cent through the year to 2016; and a rate of economic growth faster than any G7 nation and double the rate of the G7 nation whose economy compares most directly with that of Australia, namely Canada. The labour market is resilient. Our unemployment rate is at 5.6 per cent. Everyone accepts that the headline measure of the resilience of the labour market is the unemployment rate—unemployment at 5.6 per cent is at the lowest level it has been for three years, with over 450,000 new jobs since September 2013. (Time expired)

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

Senator Bilyk, a final supplementary question.

Catryna Bilyk (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

In every month since Mr Turnbull became Prime Minister Australia has had a trade deficit, taking us to 30 consecutive monthly trade deficits under the coalition—a cumulative deficit of $68 billion. Is this the economic leadership Mr Turnbull had in mind when he deposed Mr Abbott?

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

Mr President, through you: Senator Bilyk, of all the metrics of economic success you could settle upon, I am very surprised that you decided to settle on trade, because trade has been one of the standout performances of this government. We have a free trade agreement with Japan, a free trade agreement with South Korea, a free trade agreement with China and the comprehensive strategic partnership with Singapore that I just mentioned. These free trade agreements were objectives that were the apple of the eye of Mr Kevin Rudd and yet for all the years the Rudd government pursued free trade agreements with our key economic partners, particularly our Asian economic partners, they eluded the Rudd government, they eluded the Labor Party. But in three years the coalition has delivered the key free trade agreements that Australia so desperately sought. (Time expired)