Terry Young (Longman, Liberal National Party) Share this | Hansard source

There's a common expression in Australia: 'There are only two certainties in life—death and taxes.' I would like to add a third certainty to that—that the Australian economy will always be better off under a Liberal-National government. Every government faces challenges during its term, and this Morrison-led coalition government has certainly had its fair share. A one-in-100-year global pandemic springs to mind. We are now approaching two years since the COVID-19 virus first came to Australian shores and we are still feeling its economic and social impacts. This government acted decisively, and, through an unprecedented $291 billion in economic support, we are better placed than most other nations around the world in terms of economic recovery.

In my electorate of Longman, there are many local businesses thriving. We have seen here and in other parts of Australia that employers simply can't find enough staff to fill vacant positions both skilled and unskilled. Even in the hard-hit hospitality sector, I recently heard from a local cafe owner in Morayfield that, for some time now, they have been unable to find anyone to work in their newly established cafe. We have seen that the end of the extended lockdowns has kickstarted a spending spree and emboldened employers to hire more workers. The Australian Taxation Office data also shows that the number of new workers hired by businesses leapt by 13 per cent nationwide in the fortnight to 24 October Yet I still have employers in construction, agriculture, manufacturing and other industries screaming for staff. This is a great indicator of how strong our economy really is. With online job ads reaching 250,000 and increasing by almost eight per cent in October, there is good reason to be optimistic about the jobs market. This increased demand for employees is a result of an increase in consumer spending, with Australians spending an extra $1 billion in the first week in November compared to the same time in 2019, before the pandemic even began. Recent Treasury analysis of bank data has found that spending at the start of November was 20 per cent above the corresponding week two years ago.

On top of this, wages are bouncing back in line with underlying strength in the economy and labour market. The latest ABS data revealed that wages have grown by 2.2 per cent so far in 2021, higher than the 1.5 per cent forecast in the budget. Private sector wages are 2.5 per cent higher over the year, the strongest growth rate since the start of the pandemic. The RBA has also recently revised up its forecast for wages and now sees the unemployment rate reaching four per cent by the end of 2023. This is very positive news, and I'm proud to be part of a government that understands the importance of getting people into work. Not only is it good for the economy as a whole but it is good for our local communities when we have lower unemployment rates. Crime levels decrease and people's mental wellbeing is generally improved when they have a job to go to. This government also understands the importance of keeping taxes low. Lower taxes help secure our economic recovery and create even more jobs. Around 64,800 taxpayers in Longman will benefit from tax relief of up to $2,745 this year. Since the pandemic hit, wages are up 2.2 per cent, record tax cuts are flowing to households and total wages per capita are growing at 6.6 per cent. This is in stark contrast to before the coalition came into government, when real wages were falling and the unemployment rate was at 5.7 per cent and rising.

Small business has been at the heart of our economic recovery plan. JobKeeper, the cash flow boost, tax cuts and record investment incentives have allowed small business to play a key role in Australia's economic and jobs recovery. As a small-business owner myself, I well know the challenges businesses have faced during the pandemic. I have heard from other local business owners who've told me how JobKeeper saved their staff from being let go. It's as simple as that. This fantastic initiative by the Morrison government has helped support 4,671 businesses in my electorate of Longman, employing 22,924 staff.

On top of this, an extended and expanded JobTrainer Fund will support more than 450,000 new places to upskill jobseekers and young people. We already have 1,300 apprentices in Longman, and these new measures will lead to more opportunities for apprentices and trainees, with expanded wage subsidies. The Morrison government has delivered the highest number of Australians in trade apprenticeships on record. The new department program data demonstrates that the number of Australians in trade-training apprenticeships reached 217,400 in July 2021, the highest number since records began in 1963. As the country opens up and the jobs come back, Australians have much to look forward to this summer.

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