Andrew Bragg (NSW, Liberal Party) Share this | Link to this | Hansard source

My question is for the Minister representing the Prime Minister, Senator Birmingham. Can the minister please advise the Senate how the Liberal-National government is taking action to strengthen the economic recovery and create jobs as we move to the next phase of the recovery from the COVID-19 pandemic?

Simon Birmingham (SA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

I thank Senator Bragg for his question—and I know he's had a relentless focus on how we help Australians through the challenges caused by COVID-19. Globally we've seen yet another wave of the challenges resulting from COVID-19, just as we've seen the waves of COVID-19 continue. The most recent wave that has challenged the globe, of course, has been the omicron wave. We've seen a huge spike in case numbers right around the world, but, thankfully it's a less severe variant than has previously been faced. I want to thank all Australians for what they have done over the past two years but particularly during the recent summer season in the face of the global challenges of COVID-19. Together, the resilience and efforts of Australians have achieved remarkable outcomes—some of the lowest fatality rates in the world, some of the highest vaccination rates in the world, some of the strongest economic outcomes in the world. More than 51 million vaccinations have been applied across our country, with around 94 per cent of those aged over 16 fully vaccinated and more than nine million people having had a booster.

There are no silver bullets to dealing with COVID-19; we have to continue to work through the ever-changing circumstances. As we do that we are able to continue to work towards the normalisation of the treatment of COVID as we live more effectively with COVID, with a highly vaccinated population. From 21 February, in just 13 days, we will see our international borders reopen to tourists, giving a much needed lift to our tourism industry, a further step in our economic plan that has kept Australians secure in their jobs, kept Australian businesses stronger and has enabled our economy to withstand its biggest test in decades. We are one of only nine countries in the world to still have a AAA credit rating intact even with the spending incurred through COVID. Our inflation is well below that of other advanced economies. Our unemployment is at a 13-year low. These economic outcomes are facts and are testament to the fact that Australia's policies worked to help keep Australians safer and more secure. (Time expired)

Slade Brockman (President) Share this | Link to this | Hansard source

Senator Bragg, a supplementary question?

Andrew Bragg (NSW, Liberal Party) Share this | Link to this | Hansard source

What has been the impact of the COVID-19 pandemic on Australia's employment situation, and what are the expectations for the year ahead?

Simon Birmingham (SA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

Despite all the challenges that have been faced, more Australians are in work today than ever before. More Australians are in work today than ever before. Indeed, 1.7 million additional jobs have been created during the time of our government. Unemployment today stands, in its last recorded figures, at 4.2 per cent. That is a 13-year low. These are economic outcomes that would very much be the envy of so many other nations of the world. Just one year ago, unemployment was 6.6 per cent. It's now at 4.2 per cent. We see women's workforce participation at its highest level with more than one million additional Australian women in jobs than was the case when our government was elected. Youth unemployment has fallen to its lowest level since 2008. Again, investment in trades and in apprenticeships has helped to drive outcomes there, protecting young Australians from the ravages that previous recessions and economic downturns have inflicted upon them. (Time expired)

Slade Brockman (President) Share this | Link to this | Hansard source

Senator Bragg, a second supplementary question?

Andrew Bragg (NSW, Liberal Party) Share this | Link to this | Hansard source

What support is the government providing businesses to allow them to grow and continue to employ Australians?

Simon Birmingham (SA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

The last two budgets our government has handed down have been focused on the economic recovery plans to keep Australia's businesses strong, safe and secure, to keep Australians in jobs and to help us work through the continued uncertainties of COVID, and they have worked. They have worked in terms of supporting those businesses—hundreds of thousands of livelihoods and Australian businesses. Our continued support through tax relief for Australians means more than 11 million Australian families are enjoying the benefits of lower income taxes with $1½ billion a month extra going into the pockets of those Australian households. The support of the HomeBuilder program and the home guarantee scheme will see more than 300,000 Australians helped into homeownership even in these challenging international times. Our $110 billion pipeline of infrastructure projects and the 220,000 trade apprentices in training are the consequence of targeted, effective policies that we have put in place to help keep Australians secure.