Monday, 2 May 2016
Economy , Taxation
I am very pleased today to talk about our government's economic record and negative gearing. I start by reminding all here in the chamber today of the Turnbull government's economic record of some 26,100 new jobs created in March, adding to the tally of 235,000 jobs in the past year. Unemployment dropped to 5.7 per cent in March, the lowest rate in 2½ years, business confidence jumped three points in March to be plus six points and business conditions jumped by four points to be plus 12 points. These are all signs of good economic management by the Turnbull government. These stats are no coincidence. This government understands economics and growth.
As I have said on numerous occasions in this place, good financial management is part of the Liberal Party's DNA. That is why we will not abolish negative gearing, which will hurt the mum and dad investors the most. The Labor Party's negative gearing policy rips away a once-in-a-lifetime opportunity for families to invest so that they can get ahead. Labor's policy will affect the over 14,000 hardworking Australians in Durack who are using negative gearing to create a better financial future for themselves and for their families. Hardworking Australians will be worse off under the Labor Party, who, despite being emphatically thrown out of office three years ago, are still the same party of waste and poor financial management and they cannot be trusted.