Matt Keogh (Burt, Australian Labor Party, Shadow Minister for Defence Industry) Share this | Link to this | Hansard source

We're back for a third term of this government, and what do we find? We find that the economy of this nation is floundering under this government. What have they delivered for the people of Australia? They've delivered anaemic growth. They've delivered record-low wage rises. They've made sure that we have an economy that is floundering. People are hurting. Unemployment is now up to 5.2 per cent. It is even higher in states like Queensland and in my state of Western Australia. And what are they doing about it? Let's check their plan. Let's see what the government is going deliver. What did they announce at this election to help us see economic growth in this nation, to make sure that more people can go into work, to make sure that we see the growth that will provide the foundation of our economy going forward? Hang on—nothing. There was no plan to help the economy coming out of this government. They've arrived for a third term and all they're going to do is leave us with anaemic growth. The Reserve Bank governor has been out, trying to make it clear to the government that it should not be relying on monetary policy alone to provide the growth that our economy clearly needs. It is why Labor put forward an alternative approach to tax cuts, to bring forward tax cuts, to put more money in all working Australians' hands, so that they could be spending it in the economy, helping those small and family businesses by making sure people could buy their goods and services, but no. Instead, under this government, in their third term, on their watch, we have a floundering economy. (Time expired)