House debates

Wednesday, 16 October 2019

Questions without Notice

Economy

2:04 pm

Photo of Josh FrydenbergJosh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Hansard source

The IMF today, in its global economic outlook report, has Australia's economic growth in 2019 at 1.7 per cent and in 2020 at 2.3 per cent. As the House knows, Australia is in its 29th consecutive year of economic growth. Employment growth in Australia is at 2.5 per cent. Do you know what it was when we came to government, when we inherited the fiscal mess from the Labor Party? It was at 0.7 per cent, less than one-third of what we have today. Economic participation—the number of people who are in work—is at a record high at over 66 per cent. Welfare dependency today is at a 30-year low. We now have—

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