Senate debates

Thursday, 26 August 2021

Questions without Notice

COVID-19: Economy

2:23 pm

Photo of Simon BirminghamSimon Birmingham (SA, Liberal Party, Minister for Finance) Share this | Hansard source

There continues to be significant support in terms of our economy and, from that support, significant strength in our economy. The jobs market has shown great resilience, coming back strongly from different lockdowns and shutdowns and holding up very strongly. Last week we saw real wages data continuing to remain above prepandemic levels. These things are in contrast to so much of the rest of the world.

Indeed, the Future Fund, a hugely important asset for our nation, has delivered its strongest ever investment earnings through the 2020-21 year. Earnings have grown by 22.2 per cent, up some $35.7 billion, tripling the initial investments made in the Future Fund and ensuring that net debt for our nation's future is as strong as possible. These all demonstrate resilience, strength and capability across the Australian economy and should give people confidence for the future.

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