Lucy Wicks (Robertson, Liberal Party) Share this | Link to this | Hansard source

My question is to the Prime Minister. Will the Prime Minister advise the House how the government's plans for lower taxes will strengthen the economy, create jobs and grow wages, including in my electorate of Robertson? How to the government's plans compare with the experience of other developed countries?

Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

I thank the honourable member for her question. We know that our pro-business, pro-investment, pro-jobs policies are delivering because we have seen 16 months of continuous jobs growth—the longest in more than 40 years—and we have seen last year the largest number of jobs created—403,000—in any given year. We know that three quarters of them are full time and 60 per cent of them are women taking up those jobs. Female participation is at its highest rate ever. We are seeing the performance of an economy that is getting support from its government to deliver the jobs and growth we promised in the 2016 election. As I said in my earlier answer, you are seeing precisely the same response across the United States. You're seeing jobs growth, wages growth, investment growing, business confidence rising. The reality is—and it has always been the reality—if you provide incentives for business to invest, if you reduce business taxes, you get more investment. If you get more investment you get greater productivity, you get more jobs and you get higher-paid jobs. Unless you have that investment you won't get the growth that you need.

Ms Butler interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Griffith is warned.

Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

Of course the Leader of the Opposition used to say precisely that point—I practically paraphrased him—a few years ago. The shadow Treasurer wrote a book about it, he was so committed to it. That's what the Labor Party used to be in favour of. But now we hear that the national left faction of the Labor Party wants to increase taxes. It wants to have a kinder refugee policy. We know what that means: it means being kinder to people smugglers. What they want to do is jack taxes up. We know that the member for Scullin and the member for Shortland presented a paper outlining their priorities. The paper quotes them saying, 'We will be perceived, and rightly so, as just a pale imitation of the Liberals if we support the tax cuts for large corporations but just say, "Let's wait a few years".' I wonder who they're referring to? Could it be the member for McMahon, as he goes from one board room to another to say, 'I haven't lost my passion for lower business taxes that I wrote about in my book'?

Of that, by the way, copies can be found anywhere where remaindering occurs. It's available right around the country. He goes and says, 'It's just not the right time to have business tax cuts.' Well, the Left are after him and they're after the Leader of the Opposition, and it is the Left that is threatening the economy of our future. (Time expired)