Dean Smith (WA, Liberal Party) Share this | Hansard source

I'm also—'delighted' might be too strong a word—interested in making a contribution this morning on this private senator's bill, the Productivity Commission Amendment (Addressing Inequality) Bill 2017. This bill seeks to do a number of things. It seeks to utilise the excellent resources at the Productivity Commission to bring attention to what is an important issue in our country—no-one is denying that—which is the issue, or suggestion, of rising levels of inequality.

My contribution is brief, but I look forward to continuing this when we next debate the private senator's bill. It is an interesting bill. I don't doubt Senator McAllister's motivation with regard to this, but there are a number of important points. Firstly, the bill is technically flawed—I'll come to that in a moment. Secondly, the bill is thematically flawed. Thirdly, it's interesting that none of the contributions from the Labor senators this morning have drawn attention to the very recent work—in just the last few weeks—and findings of the Productivity Commission on the issue of inequality. It's very interesting that none of them have sought to draw attention to the work the Productivity Commission publically released only a few weeks ago on the issue of inequality in our country, or, importantly, that none of them have sought to draw attention to the very clear findings that the Productivity Commission made.

That report, released in the last few weeks by the Productivity Commission, was called Rising inequality? A stocktake of the evidence.What that Productivity Commission led report sought to do was put light on some of the myths that have been allowed to abound in what has become a very significant and important political campaign. Indeed, we heard from Senator Brown that the issue of inequality is a campaign priority. It's a campaign emphasis of Bill Shorten's, the Leader of the Opposition's, attempts to get into the Lodge and win the next election.

What was it that that Productivity Commission report actually said? It said five important things. The first was that, over the last three decades, inequality has risen only slightly in Australia. Secondly, it's said that sustained growth has delivered significantly improved living standards for the average Australian in every income decile. Thirdly, it said Australia's progressive tax and highly targeted transfer system substantially reduced inequality in our country. Fourthly, it said that economic mobility is high in Australia, with almost everyone moving across the income distribution over the course of their lives. Fifthly, it said some Australians do experience entrenched economic disadvantage.

Debate interrupted.