Zali Steggall (Warringah, Independent) | Link to this | Hansard source

My question is to the Treasurer Just this morning I received an email from a local business in Manly on the verge of closing their doors after 63 years of trading. Revenue's down, they're struggling for staff and there is no tourism. I commend Treasurer Kean and the—

Government members interj ecting—

Andrew Wallace (Speaker) | Link to this | Hansard source

The member for Warringah will resume her seat for a moment. Now the level of interjections on my right is precluding me from hearing the question. The member for Warringah has the right to ask her question in silence—if for no other reason, so that I can hear it and so the person who the question is directed at, who I still couldn't hear, can also hear the question. The member for Warringah has the call.

Zali Steggall (Warringah, Independent) | Link to this | Hansard source

Thank you, Mr Speaker. May I recommence from the top?

Andrew Wallace (Speaker) | Link to this | Hansard source

Yes, please.

Zali Steggall (Warringah, Independent) | Link to this | Hansard source

Thank you. Just this morning, Treasurer, I received an email from a local business in Manly on the verge of closing their doors after 63 years of trading. Revenue's down, they're struggling for staff and there is no tourism. I commend Treasurer Kean and the New South Wales government for their support package for our businesses. The federal government are riding on the coat-tails of New South Wales's economy when it suits them but are now not standing with the New South Wales Treasurer to match their support package. Will you commit to support struggling businesses in Warringah in New South Wales?

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

I thank the member for her question and hope that letter she received had a $100,000 cheque and that it was properly disclosed, because these Independents are speaking from both sides of their mouths The last thing they are is true Independents.

The reality is that this side of the House have helped deliver more than $60 billion of economic support to the people of New South Wales—record support to the people of New South Wales, whether it's been the JobKeeper payment, the cash flow boost, the $750 payments to pensioners, carers, veterans and others on income support, or, indeed, the COVID disaster payment, where we picked up the tab during the recent Delta outbreak. We partnered with the New South Wales government on a fifty-fifty basis to provide business support, which was very important.

But now the economy is recovering strongly. There are definitely businesses and families who continue to be challenged by the current economic conditions, but Australia has outperformed all major advanced economies. We have been there for the Australian people, including the people of New South Wales, when they needed our help. Today, we have an unemployment rate at 4.2 per cent, a 13-year low, on track to a 50-year low. We look at the strong pipeline of business investment, which is counterintuitive during a recession. Businesses are taking advantage of the immediate expensing provisions that we have outlined in successive budgets. We have held on to our AAA credit rating from the three leading credit-rating agencies, and we've been supporting households and businesses with lower taxes, because that's consistent with the values that we on this side of the House support and live by.

Another proof point to the people of New South Wales that we are recovering strongly is consumer confidence. Today consumer confidence was up by 3.3 per cent for the past week, the single biggest increase in consumer confidence since April 2021. It was up in New South Wales, it was up in Western Australia, it was up in Victoria, it was up in Queensland, it was up in South Australia and it was up in Tasmania. So the fact is on the health front we have seen the omicron cases and the ICU and the hospitalisation numbers start to come down, but our economic support is still there with the COVID payment for those who are forced to take up to a week of leave from their job. (Time expired)