Gavin Pearce (Braddon, Liberal Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer update the House on how the Morrison government's strong and decisive economic management continues to help ensure our economic recovery is now well underway; and is the Treasurer aware of any actual alternative policies?

Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I thank the member for Braddon and acknowledge his experience as a small business person and a farmer and with more than 20 years of service in the Australian Defence Force. The member for Braddon and others on this side of the House understand that the Australian economy's recovery is on. The recovery is on. We've seen the unemployment rate fall to 6.4 per cent. We've seen our AAA credit rating being maintained. We've seen business and consumer confidence go back to pre-pandemic levels and we saw economic growth of 3.1 per cent for the December quarter, the first time since records began that Australia has enjoyed two consecutive quarters of more than three per cent growth—more than three per cent growth for two consecutive quarters.

Australia's economy has outperformed all major advanced economies around the world over the last 12 months. That is something that 25 million Australians can be proud of. And, right around the country, there are success stories of businesses getting back on their feet and graduating off JobKeeper, like Derrico Cycles and Mead Con constructions that I visited in Devonport with the member for Braddon recently. Both are off JobKeeper and both used JobKeeper to keep their staff. In the case of Mead Con construction, they have taken on four new apprentices. This is the recovery that is on.

I'm asked if there are any alternative policies. I'm not aware of any alternative credible policies—no credible policies. But I am aware that those opposite have never seen a tax increase that they haven't loved and a spending increase that they haven't liked. The reality is that, at the last election, they took to the Australian people $387 billion of higher taxes that the Australian people have not forgotten—on your superannuation, on your income, on your housing, on your savings and on your businesses. Do you remember when the member for McMahon told the Australian people, 'If you don't like our policies, don't vote for them'? Well, they took him literally. Remember when the member for Rankin described the hardworking small business people across the country as 'the top end of town'? Do you remember when the member for Maribyrnong described retirees as being on the back of their yachts? That's what the Labor Party said about hardworking people across the country. The Leader of the Opposition was back at it again last week when he refused to confirm that he would support our legislated tax cuts. Only we on this side of the House support lower taxes and a stronger economy.