Warren Entsch (Leichhardt, Liberal Party) Share this | Link to this | Hansard source

My question is to our Treasurer. Will the Treasurer remind the House how the Morrison government's strong leadership on the economy and its unprecedented levels of economic support are delivering on our commitment to create more and more jobs for Australians? And, more importantly, is the Treasurer aware of any threats to further job creation in our economy?

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

I thank the member for Leichhardt for his question and note that he is a fierce and formidable advocate for the people of North Queensland. I thank him for his continued service to the people of Leichhardt.

The Australian economy is recovering from the most significant economic shock since the Great Depression. Today we had confirmation of the strength and resilience of the Australian economy, with the unemployment rate falling to 5.8 per cent, with 88,700 new jobs created, with the participation rate being kept at around a record high and with employment levels getting back to their pre-pandemic levels. What was particularly pleasing about today's jobs numbers was that all of those 88,700 new jobs were full-time jobs, more than 80 per cent of those jobs went to women and more than 40 per cent of those jobs went to young people.

So this was all about creating more jobs, creating more jobs across every sector and every region across the economy. The reason why the economy is bouncing back so strongly is the commitment of 25 million-plus Australians, with the strong support of the Morrison government, including $251 billion in direct financial support: JobKeeper, JobSeeker, the cash flow boost, the $750 cash payments. They've all helped the Australian economy to rebound.

I'm asked whether there are any threats to our economic recovery. We know that we on this side of the House stand for lower taxes because we want Australians to earn more and keep more of what they earn. But those on the other side of the House stand for higher taxes—

Dr Chalmers interjecting—

The member for Rankin, well, he stands for higher taxes because he was the co-architect, with the member for McMahon, of higher taxes on superannuation, higher taxes on income, higher education taxes on retirees, higher taxes on housing and higher taxes on small business. Just the other week, the Leader of the Opposition was given an opportunity to support the legislated stage 3 tax cuts, and do you know what he said? He refused to commit to it. He said, 'We'll have to wait and see.' A diesel mechanic earning $90,000 a year will be $1,100 worse off if the Leader of the Opposition doesn't support the legislated stage 3 tax cuts. The reality is that we on this side of the House stand for lower taxes and more jobs, and that's what we've delivered.