Jason Falinski (Mackellar, Liberal Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Can the Treasurer outline for the House how the National Energy Guarantee will work with other actions this government has taken on energy to support more and better paid jobs in our economy? Is the Treasurer aware of any alternative approaches?

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I thank the member for Mackellar for his question. There are few things that really excite this side of the House more than Australians getting jobs. When Australians get jobs in this country, this side of the House cheers, roars and celebrates. They welcome Australians getting jobs, because the Turnbull government equals more jobs. That is what we know. Australia has just experienced the strongest annual full-time growth in jobs on record in 40 years. In the 40 years of records on full-time jobs growth, this has been the best record of full-time jobs growth: some 316,000 full-time positions were created in the last year and 371,000 jobs were created in total in the last 12 months. That means that the unemployment rate has fallen to 5.5 per cent, below where it was at the first time this government was elected back in 2013 and down more than half a full percentage point over the last couple of years. Nearly 20,000 new jobs were created in September. This is the 12th consecutive month that jobs growth has been present in our economy, which is the longest run of jobs growth in 23 years.

I am listening for the congratulations from those opposite to those who got jobs and I can't hear a thing. I can't hear a thing from those opposite congratulating the businesses that have gone out and created those jobs. All I see is down faces, because the last thing they want to see is more jobs. That's because they are generated by their own self-interest when it comes to economic policy in this place. Jobs growth means the government's policies are working and that is something that this government can mark down as the consequence of good economic decisions and sound economic management. That includes the decisions we have taken on energy, whether it is securing gas for domestic use, getting the right deals out of retail energy companies, ensuring we get rid of the free kick for poles and wires companies that were driving up prices, or building Snowy 2.0. All of this was part of the Prime Minister's energy plan that was announced in the budget this year.

To top that off there is the National Energy Guarantee, which provides certainty for investment, to drive an increase in investment in energy supply, which puts downward pressure on power prices, which means one thing: businesses' costs can be more affordable, which means they can employ more people, which means more jobs. The National Energy Guarantee is not just a guarantee to drive down power prices. The National Energy Guarantee is a guarantee for more jobs.