Lin Thorp (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

My question is to Senator Wong, the Minister representing the Treasurer. Has the minister seen any recent international reports on the performance of the Australian economy? How does this compare with the performance of other major advanced economies?

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

I thank Senator Thorp for her question. The OECD Economic Outlook, released last night, again confirms the resilience of this Australian economy in the face of challenging global conditions, and it confirms, unlike most other OECD economies, our fundamentals remain strong: we have solid growth, low unemployment, contained inflation and lower interest rates than ever occurred under the opposition. We also understand that not everyone is doing it easy, that many families are finding things hard, and reports like this do demonstrate why all Australians can be proud of what this country has achieved.

The OECD expects—

Opposition Senators:

Opposition senators interjecting—

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

I know you might laugh at more jobs and economic growth, Senator, but I suspect the people who elect you here might actually care about jobs and growth—the Australian economy to outperform every single major advanced economy over the next two years. In 2013 alone, Australia's growth is expected to be more than double the average for OECD economies. I know this is not news that those opposite want to hear, but the OECD report does remind us of the importance of continued reform and an economic plan for the future. Mr Abbott has cottoned onto this after months and months of nothing but negativity, smear and fear. He has suddenly worked out that he needs to look like he has got a plan for the future, so he stapled a few of his speeches together and launched them at the party room. This is nothing more than a desperate stunt to try and pretend that he has actually got a few policy ideas. (Time expired)

Lin Thorp (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

Mr President, I ask a supplementary question. Can the minister outline how international bodies such as the Organisation for Economic Cooperation and Development view the outlook for jobs and employment in Australia?

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

The OECD expects Australia's unemployment rate to remain low next year, and the only people in this country who would not be positive about that are, of course, those opposite. Australia, if I can remind the chamber, has had a standout record on jobs as a result of the government's actions in the worst global downturn since the Great Depression. Labor acted to save jobs and avoid recession; some 800,000 jobs have been created since this government came to power.

I return to the Leader of the Opposition's desperate stunt today. I ask this chamber: can anyone imagine John Howard stooping so low and being so desperate that the best he could do for an economic plan for the country was to rerelease a stapled version of his speeches to his own party room and pretend that is a plan for the future? I did not agree with Mr Howard, but he would never have been so desperate to engage in such a stunt. (Time expired)

Lin Thorp (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

Mr President, I ask a second supplementary question. How does the government's plan for the future of Australian education—

Opposition Senators:

Opposition senators interjecting—

John Hogg (President) Share this | Link to this | Hansard source

Order! Senator Thorpe, resume your seat. When this disorderly behaviour has ceased, I will give you the call. Senator Thorpe.

Lin Thorp (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

How does the government's plan for the future of Australian education support the performance of the Australian economy?

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

Labor people understand the importance of education. We understand its importance to preserving the Australian ideal of a fair go. We understand its importance to the ongoing strength of the Australian economy because we understand fundamentally this: that to win the economic race we have to win the education race. We know that the Australian economy has completed over two decades of economic growth. We know that the OECD report confirms the resilience of the Australian economy in the context and in the face of global headwinds.

But we also know that we must look to the future and keep working to ensure that our economy remains strong. That is why today we saw the Prime Minister introducing the Australian education bill, incorporating our national plan for school improvement, because we understand that a world-leading education system is central to the ongoing strength and resilience of our economy. In contrast, what do we have from those opposite? Just more negativity. (Time expired)