Tony Sheldon (NSW, Australian Labor Party) Share this | Hansard source

I want to take note of the answers to questions that were put to Senator Cormann. Isn't it absolutely amazing, when we've got them coming in here—and I really enjoyed listening to the senators before me—talking about 'our priorities' from the list on the Liberal Party talking sheet, because, when you start looking at some the things they put in their talking sheet, you start to see the sorts of rhetoric they use in debate about the serious economic challenges facing the Australian economy. The Prime Minister, in the talking points, said:

… "from our Government you have seen certainty, you have seen stability. You've seen a plan, and a plan that we took to the Australian people, a plan that we put in our Budget, a plan that foresaw the challenges that Australia was going to face, and a Government that's just steadfastly getting on with implementing that plan."

Well, that plan has brought us an economic growth rate that is lower than Greece's. Did you think that you could possibly turn it around by putting out a rhetoric sheet, when you've had the economy growing at a rate that is less than Greece's? Greece has been in a depression for seven years and now has a higher growth rate than Australia! Look at the growth, and the slower growth rate, that we have compared to the US, Spain and New Zealand.

I like a bit of competition with the Kiwis; I've got a brother-in-law who's a Kiwi. But they're beating you. And there is a big difference: they've got a Labor government, so that's the first reason they've got some good thought about how to move their economy forward. But unfortunately this government doesn't have a plan. They have a plan about talking about a plan they don't have. Their plan—if it exists—doesn't rate with the RBA; they've downgraded growth. It doesn't rate with the OECD; they've downgraded growth again for Australia. It doesn't work for the IMF; they've downgraded growth for Australia as well. That's the trifecta.

What's clear is that we have a situation in this country where people are under incredible stress because of the mismanagement by this government of this economy and their failure to turn around and recognise the seriousness of the challenges that we're facing. The Australian public are fully aware, but the government doesn't seem to be. Unemployment in Australia is now at 5.3 per cent. Youth unemployment in Australia is now twice that—a whopping 11.7 per cent, and in some regional areas it is as high as 20 per cent. Underemployment is now a disgraceful 8.5 per cent, and youth underemployment is at 20.9 per cent. But don't worry: they have a plan. Well, the plan's not working. The OECD's telling you; the RBA's been telling you for months; and of course the IMF has blown the whistle on you about the fact that you've failed to act in a way that is economically responsible.

What's clear about the future in this plan from the government—among the things they put in their talking points for 14 October was lower taxes, so you can keep more of what you earn. Well, bring the tax cuts forward. We need to actually turn around and stimulate the economy. Their second point was: reduce the cost of doing business. Energy—well, there's no plan there. Deregulation, finance—well, we've seen the banking royal commission, and we're still waiting for the full plan, and there's no plan there. And this is the one I find absolutely disgraceful: getting paid on time. This is point 2 of their two points of their big plan.

You only have to talk to small business. Prior to being here I had the pleasure of representing the largest small-business organisation in this country—probably larger than all the other small-business organisations put together, representing owner-drivers. Regarding getting paid on time, the only people who have turned around and stopped payment on time are this government. The average payment time is 240 days for trucking companies in various parts of the economy. It's averaging 90 to 120 days in other parts of the economy. The time for waiting to be paid is blowing out. Yet this was the government—along with the previous, Turnbull, government—that turned around and got rid of payment time of 30 days for owner-drivers. (Time expired)