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

Mr Speaker, we are laughing at the shadow of a shadow Treasurer, the member for Rankin. Not even the Leader of the Opposition has confidence in the shadow Treasurer, and he had to get the member for Corio to take on the new portfolio.

The reality is that, the day the unemployment numbers came out, the member for Rankin went into witness protection because he's embarrassed by his own words—'diabolical consequences'. The harsh reality for the member for Rankin is that his prophecies of doom did not eventuate. In the month of April, the unemployment rate came down to 5.5 per cent—came down—33,800 new full-time jobs were created, the underemployment rate fell to its lowest level in seven years and the youth unemployment rate fell to its lowest level in 20 years.

We on this side of the House are championing the cause of job creation. We on this side of the House are pleased when more Australians get into jobs. The only people who are commiserating with more people being in work is the Leader of the Opposition and the shadow of a shadow Treasurer, the member for Rankin.

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