Helen Polley (Tasmania, Australian Labor Party) Share this | Hansard source

After six years of the Liberals—that is, after three different prime ministers, three different Treasurers and 16 energy policies—the economy here in Australia continues to flounder. The economy has slowed substantially. Australians are struggling, and the Morrison government has no plan to turn things around.

Today marks six years since this Liberal government was elected, and its record card makes for very disappointing reading. Economic growth is at the lowest level since the global financial crisis. There are 1.8 million Australians looking for work or more work. Wages are growing at one-sixth the pace of profits, with this government presiding over the worst wage growth on record. Household debts have surged to record levels, increasing by $650 billion under the Liberals. Economic growth per person is going backwards. Productivity is going backwards. Business investment is down 20 per cent since the Liberals came to office, and now it is at its lowest level since the 1990s recession. Net debt has more than doubled.

This is what happens when a government spends six years pointing the finger, blame-shifting and making excuses instead of getting the policy settings right. While the Liberals are popping champagne corks and congratulating themselves on winning the election, Australians' wages aren't keeping up with the rising costs of child care, electricity and health, and our standard of living is going backwards. You would have thought that, after six years, they would have an economic policy to grow wages and the economy. One thing is certain: Scott Morrison and Josh Frydenberg are no Costello or Keating.