Wednesday, 28 October 2020
Statements by Members
There is no doubt that Australia has been going through one of the toughest economic times we've seen, certainly since the Second World War and possibly since the Depression. So it was delightful news yesterday when the RBA made a statement to Senate estimates that they believe Australia has come out of recession after just two negative quarters of growth. While the rest of the world is still floundering—in many cases, with their economies and their health issues—it's quite an outstanding result that we've reached this point. It is at a time when Victoria has been going through a tough time and dragging the chain. We heard a very spirited speech in this place yesterday from the Treasurer going to the point of some of those concerns. But, at a time when Victoria has been losing 1,200 jobs a day, Australia has actually been gaining 2,000 plus a day. So we're in a net positive as a country. That is fantastic news for Australians, and it's also fantastic news that the women's employment rate is rising faster than the men's employment rate. These are great outcomes. The Treasurer also told us that consumer confidence is up 11 per cent since the budget—that is the best result any budget has ever received in Australia. In fact, consumer confidence levels are back to where they were in March, and—I can't go on anymore; I've run out of time!