Lucy Wicks (Robertson, Liberal Party) Share this | Link to this | Hansard source

My question is to the Prime Minister. Will the Prime Minister update the House on how the G20 support for an open global trading system and cooperation on security helps to guarantee our future prosperity by building a stronger Australian economy without increasing taxes?

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

I thank the member for Robertson for her question and I commend her on her endorsement as the Liberal candidate and member for the next election. She's doing a great job as the member for Robertson, and she'll continue to do that.

Our government has a plan for an even stronger economy, which is ensuring we can deliver the essential services that Australians rely on to protect the services they have and to ensure they can secure the opportunities that they're looking for, for them and their families, into the future. Our plan for a stronger economy is setting up Australians for the next decade as, indeed, we've been able to put the runs on the board in creating a stronger economy to this point. There is a choice at the next election: a stronger economy with lower taxes under the Liberal-National Party or a weaker economy with higher taxes under the Labor Party. It's a very clear contrast. There's a very clear choice. Our plan, which involves a stronger economy, is how you guarantee Medicare, is how you guarantee affordable medicines and is how you guarantee funding for schools and hospitals. Only through a stronger economy can you achieve that. That's why our plan—lowering taxes, backing small business and family businesses, investing in the infrastructure that Australians need to grow their economy, congestion-busting the city and connecting markets together with those who are producing the produce across the country—is also enhanced by our commitment to free and open trade. In this country, one in five jobs are dependent on trade—40 per cent of our economy is dependent on trade—and over the last generation Australian households are $8,500 better off today in real terms because of the advances that we've made in trade.

Our government understands that Australia has never got rich selling things to itself. We've understood that Australia has had to have an external outlook and has had to focus on opening up markets. That's why, as a government, we've focused on securing those agreements from the China-Australia Free Trade Agreement, the Japan-Australia Economic Partnership Agreement, the Korea-Australia Free Trade Agreement and the Australia-Hong Kong Free Trade Agreement—all of these agreements. While we were at the G20, we made extraordinary progress and a political commitment to conclude an EU free trade agreement when we met with the European Commission. We went to the G20 for the simple purpose to promote the cause of free trade and open trade with rule based trade. That was the focus of our efforts. We were pleased to see the meeting between President Jinping and President Trump. We were pleased to see the communique that recommitted to deal with the growing tensions in trade, to ensure that the Australian economy can continue to benefit from free and open trade. It's a key part of our plan that is delivering a stronger economy for Australia. It is disappointing that the Labor Party sought to frustrate us over that plan over the last five years. (Time expired)