Tuesday, 1 December 2020
Questions without Notice
My question is to the Treasurer. Will the Treasurer update the House on how the Morrison government's strong budget measures and programs are helping to ensure that our economic comeback from the COVID-19 recession is well underway?
Thank you. I thank the member for Chisholm for her question. She understands how the Australian economy has continued to strengthen. Economic recovery is underway. Today consumer confidence numbers are up 2.9 per cent—12 out of the last 13 weeks. Consumer confidence is back to the level we last saw in February. We have seen payroll jobs data up again today. This is the third consecutive fortnight where we've seen positive payroll jobs data. We have seen building approvals up by 3.8 per cent, and 14 per cent through the year. Capital city house prices are up by 0.7 per cent. This is the first time we've seen capital city house prices up in every capital city across the country since the start of the pandemic, and the numbers are even stronger in regional Australia.
The measures of the Morrison government have helped support the economic recovery. Around $70 billion has gone out the door through JobKeeper. More than $30 billion has gone out the door through the cash flow boost. Around $14 billion has gone out the door through the coronavirus supplement. More than $9 billion has gone to pensioners and others on income support through two $750 payments, with two more $250 payments to come.
This is helping to create jobs across the economy—178,000 jobs came back last month. We know that our initiatives like JobKeeper, according to the RBA, have helped save at least 700,000 jobs. So our congratulations go to the people of Australia who are now getting back to work. With the national accounts tomorrow—and we've seen economic data in recent days—we will continue to see that Australia's economic recovery is underway. The comeback is on.