Andrew Gee (Calare, National Party) Share this | Hansard source

I'm absolutely delighted to be able to highlight to this House this afternoon the wonderful economic leadership of the Turnbull-Joyce government. It's leadership that can be contrasted against that of those opposite, who are weak on border protection, weak on national security and, most of all, weak on the economy, because they have no economic plan apart from playing the politics of division. They are anti workers, they are anti mining and they are anti regions, hand in glove with the Greens.

But the public need not fear, because, as the Treasurer foreshadowed in the most recent budget, better days are ahead. Better days are, in fact, here; I think they've arrived. On every indicator, across the key indicators, better days have indeed arrived. I want to have a look at some of those this afternoon, because I think the House is going to be very interested in this. Look at jobs: over 60,000 people went out to get a full-time job in June and got one. That's very good news—better days, better times, as the member for Boothby well knows. Over 240,000 jobs have been created over the past financial year, the strongest jobs growth since the GFC.

Ms Flint interjecting—

The member for Boothby loves this great economic news. Over 175,000 of those jobs, or almost 75 per cent, have been full-time jobs—better days and better futures, as the member for Boothby well knows.

Let's look at business confidence and conditions. Business conditions rose to their highest level in almost a decade in June. The NAB noted that business conditions hit another multiyear high, with most industries performing well. Business confidence also rose to well above its long-term average. The NAB chief economist, Alan Oster, has noted how pleasantly surprised he is by just how upbeat the business sector is. Alan, we appreciate the sentiment, but you shouldn't be surprised, because businesses know—

Ms Flint interjecting—

and the member for Boothby knows that better days have arrived and better days are ahead. That's why business confidence is so high.

Let's have a look at consumer confidence. The latest data from the ANZ-Roy Morgan ratings showed that more and more Australians are confident about the better days ahead for our economy. Consumer confidence recently jumped to be around five per cent above the long-run average, its highest level in five months. Better still, expectations for economic conditions next year are now at the highest level since September 2013. What a great testament to confidence in the leadership of the Turnbull-Joyce government!

Let's have a look at retail, another key indicator.

An opposition member interjecting—

Yes, let's have a look at it. You don't like this, do you? Those opposite can sit there and chirp away, but they can't handle the truth, Mr Deputy Speaker. It was a positive year for the retail sector in 2016-17, with annual sales volumes up around two per cent on the last financial year. Looking at the June quarter, sales volumes increased 1.5 per cent—the strongest quarterly outcome since early 2013. What fantastic economic news that is! Over the past year, volume growth across all retail categories has been positive, with particular strength seen in household goods retailing.

Let's have a look at housing. Dwelling approvals rose 11 per cent in the month of June, and this increase was spread across both apartments and houses. Apartments were up 20 per cent in the month and houses were up over three per cent in the month. That is another key indicator ticked off.

In manufacturing, manufacturers surveyed by Ai Group in July reported steadily rising demand, and this demand is coming from construction, mining and agriculture. Ai Group's performance of manufacturing index, or PMI as it's known to its many admirers, has been indicating growth in the sector for the past 10 consecutive months. That's confidence in the economic leadership of the Turnbull-Joyce government.

And let's have a look at some other key initiatives under the leadership from this government. Let's look at the First Home Super Saver Scheme. From 1 July this year the Turnbull-Joyce government has been helping first home buyers crack into the housing market by using the First Home Super Saver Scheme. It will give first home buyers access to a tax cut that will accelerate their savings by at least 30 per cent.

Better days have arrived, better days are ahead, and it's all because of the economic leadership of the Turnbull-Joyce government. I commend it to this House.

See this speech in context