House debates

Tuesday, 13 June 2006

Questions without Notice

Economy

2:29 pm

Photo of Michael JohnsonMichael Johnson (Ryan, Liberal Party) Share this | | Hansard source

My question is to the Treasurer. Would the Treasurer outline for the Ryan electorate recent data on the Australian economy? What does this indicate about the Australian economic outlook? Are there any threats to this economic outlook?

Photo of Peter CostelloPeter Costello (Higgins, Liberal Party, Treasurer) Share this | | Hansard source

I am very happy to outline for the Ryan electorate what is happening with the national economy. The national accounts were released for the March quarter last week, and they showed that growth in Australia has kicked up, growing 0.9 per cent for the March quarter and 3.1 per cent through the year, which is a significant tick-up. Household consumption was moderate, and national growth was led by business investment. New machinery and equipment investment grew by 1.5 per cent and is 27.1 per cent higher through the year. Although private engineering construction fell in March, it remains 13.8 per cent higher through the year. Exports grew by 0.5 per cent, whilst imports grew by only 0.4 per cent. As a consequence of that, net exports did not detract from growth.

We are now seeing the Australian economy adjusting out of what was unsustainable housing investment and into business investment and we are beginning to see increasing export volumes. The good news about the growth in the national economy is that new jobs continue to be created, with 56,000 new persons given jobs in the month of May. All members of the House will welcome the fact that new jobs were created in the month of May. Over the last year, 172,000 new jobs have been created. I am asked about threats to the economy.

Photo of Anthony AlbaneseAnthony Albanese (Grayndler, Australian Labor Party, Deputy Manager of Opposition Business in the House) Share this | | Hansard source

Mr Speaker, I rise on a point of order. Under standing order 104, answers must be relevant to the question. The question was very specific. It was about the electorate of Ryan, which the Treasurer has not mentioned once.

Photo of David HawkerDavid Hawker (Speaker) Share this | | Hansard source

The member for Grayndler would be aware that there were more parts to that question than just one. I call the Treasurer.

Photo of Peter CostelloPeter Costello (Higgins, Liberal Party, Treasurer) Share this | | Hansard source

I am asked what threats there are to the economy. Obviously there are threats from international factors such as oil prices, which are not good for the economy, but the greatest threat to the Australian economy domestically—in Ryan!—would be the election of the Leader of the Opposition. I can think of nothing that could be worse for the Australian economy than Kim Beazley being in a position of influence. Unemployment went below five per cent last week, and the Leader of the Opposition was nowhere to be seen. As a journalist in the Australian recorded:

Australia records its lowest unemployment rate in 30 years and poor old Kim Beazley is worrying about temporary immigrants undermining union rorts.

The journalist said:

Beazley is the leaf blower of Australian politics ...

Photo of Anthony AlbaneseAnthony Albanese (Grayndler, Australian Labor Party, Deputy Manager of Opposition Business in the House) Share this | | Hansard source

Mr Speaker, I rise on a point of order, under standing order 104. It is true that the Treasurer did mention Ryan once, but now he is straying again and I ask you to bring him back to the question.

Photo of David HawkerDavid Hawker (Speaker) Share this | | Hansard source

I will make two points for the benefit of the member for Grayndler. Firstly, as I heard the question, the Treasurer was asked to tell the electors of Ryan about the economy. Secondly, the Treasurer should refer to members by their seat or by their title.

Photo of Mrs Bronwyn BishopMrs Bronwyn Bishop (Mackellar, Liberal Party) Share this | | Hansard source

Mr Speaker, I rise on a point of order. The standing orders require that members remain in their seats. I would point out to you that the Chief Opposition Whip seems to be putting himself in line for the cameras and he should be asked to take his seat.

Photo of David HawkerDavid Hawker (Speaker) Share this | | Hansard source

I would remind all members that under standing order 62 they are expected to assume their seats when they come into the chamber. I would ask the member for Shortland to observe standing order 62.

Photo of Roger PriceRoger Price (Chifley, Australian Labor Party) Share this | | Hansard source

Mr Speaker, I rise on a point of order. I think it is fair enough for me to inquire as to whether one of the members of the opposition has been warned. I know a couple have, and that was the purpose of my question. I think it is a legitimate question for me to ask.

Photo of David HawkerDavid Hawker (Speaker) Share this | | Hansard source

I thank the Chief Opposition Whip, but I was not aware he was asking me a question.

Photo of Peter CostelloPeter Costello (Higgins, Liberal Party, Treasurer) Share this | | Hansard source

I am in the process of explaining threats to the Australian economy. There could be no greater threat to the Australian economy than the Leader of the Opposition being in a position of influence. As the journalist recorded in the Australian on Friday:

Beazley is the leaf blower of Australian politics—lots of noise but all that comes out is hot air.

He is not just a normal leaf blower. He is not an economic four-cylinder leaf blower; he is a V8 turbocharged double-exhaust leaf blower. There is no end to the leaf blowing and the hot air that comes out as a consequence.

All around the world countries are now trying to move to improved industrial relations systems and Australia, amongst them, is making its labour market more flexible.

Photo of Lindsay TannerLindsay Tanner (Melbourne, Australian Labor Party, Shadow Minister for Finance) Share this | | Hansard source

Try another joke!

Photo of David HawkerDavid Hawker (Speaker) Share this | | Hansard source

Order! The member for Melbourne.

Photo of Lindsay TannerLindsay Tanner (Melbourne, Australian Labor Party, Shadow Minister for Finance) Share this | | Hansard source

Give them another joke!

Photo of David HawkerDavid Hawker (Speaker) Share this | | Hansard source

The member for Melbourne is warned!

Photo of Peter CostelloPeter Costello (Higgins, Liberal Party, Treasurer) Share this | | Hansard source

In opposition to all of the international experience, one political party stands against a more deregulated, flexible industrial relations system—the Australian Labor Party, because of its commitment to the socialist objective.

Photo of Anthony AlbaneseAnthony Albanese (Grayndler, Australian Labor Party, Deputy Manager of Opposition Business in the House) Share this | | Hansard source

Mr Speaker, I rise on a point of order. I refer you to standing order 75.

Photo of David HawkerDavid Hawker (Speaker) Share this | | Hansard source

I call the Treasurer. I am sure the Treasurer will be bringing his answer to a conclusion.

Photo of Peter CostelloPeter Costello (Higgins, Liberal Party, Treasurer) Share this | | Hansard source

Absolutely: about the dangers of not proceeding with industrial relations reform. The dangers of not proceeding with industrial relations reform will involve fewer jobs, at lower wages—

Photo of Anthony AlbaneseAnthony Albanese (Grayndler, Australian Labor Party, Deputy Manager of Opposition Business in the House) Share this | | Hansard source

Mr Speaker, I rise on a point of order. The question was about Ryan. We have now had this rant go on for 10 minutes. Standing order 75—

Photo of David HawkerDavid Hawker (Speaker) Share this | | Hansard source

The member for Grayndler will resume his seat. I will rule on the standing order. The member for Grayndler is well aware that successive occupiers of the chair have ruled that that standing order does not apply to question time.

Photo of Peter CostelloPeter Costello (Higgins, Liberal Party, Treasurer) Share this | | Hansard source

Nothing could be more important for Australia, as we go into the 21st century, than that we have a flexible economy that is able to adjust to international shocks; one where, in relation to industrial relations, we have the ability to contract between employers and employees; where there is flexibility in the workplace; and where the influence of trade unions being able to dictate, out of political objectives, is not enforced—as the Leader of the Opposition, paying tribute to his political masters, wants to do. This country needs a flexible industrial relations system; it does not need a return to the 20th and sometimes the 19th century, going backwards under the anti-reform party, the Australian Labor Party.