Sid Sidebottom (Braddon, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Assistant Treasurer. Will the Assistant Treasurer outline to the House the need for economic credibility in assessing government spending programs? What current actions threaten sensible budget measures and the government’s economic strategy?

Chris Bowen (Prospect, Australian Labor Party, Assistant Treasurer) Share this | Link to this | Hansard source

I thank the member for Braddon for his question. The House is well aware that this year’s budget contained a number of measures to protect government revenue and ensure the integrity of the tax base going into the future. It is fair to say that some of these measures have been controversial, with the Liberal and National parties opposing these measures in this House and in the other house.

These are the same people who over the last week have been doing their best to outdo Herbert Hoover as they argue that surpluses must always be protected at all costs. The irony of the Liberal and National parties opposing revenue and savings measures while ramping up their rhetoric about budget surpluses appears to have escaped them. But on this side of the House we know that the $40 billion hit which has been carried out on the federal budget as a result of the global financial situation has made these measures even more important.

Not only does the opposition not understand this, but their irresponsibility has reached new levels. I have to report to the House that the Liberal Party is planning to gut another revenue measure by this government. The opposition has indicated that they will tonight in the other house vote to emasculate the government’s measure to require the superannuation of temporary residents to be paid to the Commonwealth after that resident has left Australia and their visa has expired. This is a sensible measure and emasculating it will have no benefit for any Australian or for the Australian economy. Gutting this measure will not stimulate the Australian economy and it will not add to the savings of any Australian. The only thing that this measure by the opposition will do is potentially blow another $860 million hole in this budget.

This measure has been uncontroversial up until now. Of all the revenue measures that the government announced, this is one that the opposition have not opposed up until now. Apart from it being good policy, there is another reason this has been uncontroversial. This government is always keen to give credit where it is due, and this policy was not all our idea. In fact it was announced on 15 October last year by the previous Treasurer. The member for Higgins said on 15 October:

I am announcing today that, effective from 1 July 2008, all future superannuation contributions and balances for temporary residents will be required to be paid to the Australian Government which will hold them on behalf of those who are entitled to them.

It is a good policy, Mr Speaker, one that we are happy to implement. I table the former Treasurer’s press release announcing the measure and, through you, say to the shadow Treasurer: why don’t you plagiarise this one? This is more material for the member for Dickson, who has been out all weekend undermining the member for Curtin, backgrounding newspapers that she has got to go. And now there is more material for the member for Dickson to use in his campaign to become shadow Treasurer.

Don Randall (Canning, Liberal Party, Shadow Parliamentary Secretary for Energy and Resources) Share this | Link to this | Hansard source

I rise on a point of order, Mr Speaker. I refer to standing order 90 about reflections on members and ask that he desist.

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

Order! The Assistant Treasurer will respond to the question.

Chris Bowen (Prospect, Australian Labor Party, Assistant Treasurer) Share this | Link to this | Hansard source

This brings coalition recklessness to a new level. We know that they oppose our sensible measures but now they are opposing their own. Mr Speaker, on the one hand they lecture us on fiscal rectitude, but on the other hand they oppose sensible ideas to protect government revenue. It is just another reminder that when it comes to the Leader of the Opposition you have got to look at what he does and not at what he says.

Andrew Southcott (Boothby, Liberal Party, Shadow Minister for Employment Participation, Training and Sport) Share this | Link to this | Hansard source

My question is to the Minister for Education, Employment and Workplace Relations and Social Inclusion. I refer the minister to the Prime Minister’s estimate that the economic stimulus package will create up to 75,000 jobs over the coming year and, in addition, the government’s estimate that the recent COAG agreement will create 133,000 jobs. Minister, can you advise when these jobs will be created and in which sectors the majority of jobs will be created?

Julia Gillard (Lalor, Australian Labor Party, Deputy Prime Minister) Share this | Link to this | Hansard source

I thank the member for his question. Yes, this is a government that has acted decisively to keep this nation in front as we confront the global financial crisis and its effects on our real economy. I know that, day to day, members of the Liberal Party equivocate about whether or not they support our $10.4 billion economic security statement. The Leader of the Opposition was equivocating on radio this morning. We put that money into the economic security statement because we wanted to ensure that we were doing everything we could to pro-tect Australian jobs. The estimates are that that statement and the economic activity that it is obviously going to prime are worth 75,000 jobs. What sectors are they in? We have obviously put money into the hands of families and pensioners so the economic activity will be reflected in the things that they buy and use, and we have directly put money into the residential construction sector through the first home owners grant and its ex-ten-sion to $21,000 for people who enter a contract for a newly-constructed home. On the COAG announcements on the weekend, once again it is more money into the economy, more money where it will make a difference in health services and in education.

Andrew Southcott (Boothby, Liberal Party, Shadow Minister for Employment Participation, Training and Sport) Share this | Link to this | Hansard source

Mr Speaker, I rise on a point of order. The question was on jobs and it was very specifically on jobs. I am calling the minister to relevance and asking her if she can advise when and in which sectors—

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

The Deputy Prime Minister will respond to the question.

Julia Gillard (Lalor, Australian Labor Party, Deputy Prime Minister) Share this | Link to this | Hansard source

I was talking about jobs: jobs in our economy, jobs flowing from the economic security statement, jobs in the construction sector—I know this is complicated for the member, but if he just sticks with it he might learn something—and then more money out of COAG on the weekend into vital services—education, health, disability and social housing. Obviously, for the provision of those services, the construction of social housing is associated with jobs. That is, people work to get those things done. That is why the Prime Minister, when he spoke about these matters on Saturday surrounded by the premiers—including the Liberal Premier of Western Australia—indicated that the COAG deal was there to provide all those vital services and also to deal with some of the circumstances we find ourselves in after the global financial crisis with its impacts on the Australian economy. We are doing everything we can to ensure that we protect and create jobs in this country.