Celia Hammond (Curtin, Liberal Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer remind the House how the Morrison government's strong economic management is delivering on our commitment to generate more and more jobs for all Australians? Is the Treasurer aware of any alternative policies?

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

I thank the member for Curtin for her question and acknowledge her experience as a law academic, a law professional and the Vice-Chancellor of the University of Notre Dame. Around 20,000 members of the member for Curtin's electorate have graduated off JobKeeper. The member for Curtin, like those on this side of the House, stands for jobs—jobs, jobs and more jobs.

The Australian economy is recovering strongly from the biggest economic shock since the Great Depression. In the December quarter we saw economic growth of 3.1 per cent. For the first time since records began we have seen two consecutive quarters of economic growth of more than three per cent. What was particularly pleasing about those growth numbers is that it's the private sector that is helping to drive that recovery—household consumption is up, business investment is up, dwelling investment is up and motor vehicle sales are up. We have also seen the Morrison government and Australia maintain its AAA credit rating.

When it comes to the labour market, we saw Chris Richardson, a noted economist, say of last week's numbers that they were 'stunning' job numbers, with the unemployment rate coming down to 5.8 per cent. We saw 88,700 new jobs created in the month of February. All of those 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. We have seen 'stunning' performance, according to Chris Richardson, in our labour market.

We know that there are sectors across the economy that continue to do it tough. That's why we're responding with targeted packages, like the $1.2 billion aviation and tourism package. We also have the tax cuts that continue to flow through. There is more than $9 billion already and there is $12 billion still to come. We have 340,000 training places. We have an extension of the instant asset write-off, which is helping to boost investment, and we have infrastructure projects—new projects and those that have been brought forward.

I was asked if there are any alternative policies. We know that those opposite stand for one thing—higher taxes—because they took to the last election $387 billion of higher taxes on your superannuation, on your housing, on your investment and on your income. They've never seen a tax increase they haven't loved and a spending promise that they haven't liked. We on this side of the House stand for lower taxes. We on this side of the House stand for more jobs. We on this side of the House are delivering more jobs to more Australians.