Michael McCormack (Riverina, National Party) Share this | Hansard source

These were challenging times. Money needed to be spent, and money was spent, not only to keep the doors of business open but, indeed, to keep people alive. When we talk about keeping the doors of business open, here is a number which doesn't need fact-checking—29,521. Between June 2022 and March 2025, while Labor's been in government, according to ASIC, the corporate regulator, that's the number of businesses that have gone broke, gone insolvent. When we talk about housing, there's been a number of construction companies that have gone to the wall. When we talk of spending, in the last three years, Labor has added $100 billion—more, probably—to the national debt. We'll hit a trillion dollars this year, and that will be on Labor's watch. It'll be $1.2 trillion by the next election.

When we think about the jobs that have been created, they have been on the public purse. What they've done is add to compliance for businesses. This is hurting the economy. This is hurting everyday households. This is forcing prices up. So, when you're given the talking points by the Labor dirt unit, do your own fact-checking and know that they're not right.

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