David Bushby (Tasmania, Liberal Party) Share this | Link to this | Hansard source

My question is to the Minister for Jobs and Innovation, Senator Cash. Can the minister update the Senate on the latest labour force figures released today?

Senator Cameron interjecting—

Senator Ian Macdonald interjecting—

Scott Ryan (President) Share this | Link to this | Hansard source

Senators Cameron and Macdonald, during the question I insist upon silence.

Michaelia Cash (WA, Liberal Party, Minister for Jobs and Innovation) Share this | Link to this | Hansard source

I thank Senator Bushby for the question. I am very pleased to advise the Senate that today's labour force figures show that full-time jobs are being created because of the policies put in place by the Turnbull government. Today's labour force figures show that more Australian are in full-time jobs than ever before. That's right, colleagues: full-time employment in Australia is at a record high.

I'm also pleased to advise that the national unemployment rate has fallen to 5.3 per cent. This is actually the lowest unemployment rate since November 2012. It compares to an unemployment rate of 5.7 per cent when Labor left office. Under the policies that this government, the Turnbull government, has put in place, in the 12 months to July 2018 in excess of 300,300 jobs have been created. The good news for Australians is that two-thirds of those jobs, 200,000 of them, are full-time jobs. The level of employment in Australia has now increased for 10 of the last 12 months. In the month of July, last month, we actually saw a net increase of 19,000 full-time jobs across Australia.

Senator Cameron interjecting—

Senator Cameron, this actually compares to your last 12 months in office when, you should be ashamed to know, the economy under Labor actually shed almost 17,000 full-time jobs in the last 12 months. In July of this year the economy, under us, created 19,000 full-time jobs. Full-time job creation is what you get when you put in place the right economic policies that businesses can lever off. (Time expired)

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Bushby, is there a supplementary question?

David Bushby (Tasmania, Liberal Party) Share this | Link to this | Hansard source

How is the Turnbull government's commitment to lower taxes for businesses and individuals delivering these results?

Michaelia Cash (WA, Liberal Party, Minister for Jobs and Innovation) Share this | Link to this | Hansard source

It's very simple. On this side of the chamber, the Turnbull government, we understand that lower taxes for business mean they are able to reinvest back into the business they own. They can then grow that business, and in growing that business they create more jobs for Australians. That is what the labour force figures released today show. We also note that lower taxes for individual working Australians mean that they are able to keep more of their hard-earned money and in doing so they are able to go and spend more on goods and services. The labour force figures released today show that the economic policies that the Turnbull government has embraced and is putting in place are helping businesses to prosper and grow, and in prospering and growing they are creating more jobs and, as I've said, a record number of Australians in full-time employment. That is something that our policies have delivered.

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Bushby, is there a second supplementary question?

David Bushby (Tasmania, Liberal Party) Share this | Link to this | Hansard source

Is the minister aware of any risks to this plan for more jobs and a stronger economy?

Michaelia Cash (WA, Liberal Party, Minister for Jobs and Innovation) Share this | Link to this | Hansard source

Yes, there are risks. They're the policies of those opposite, those from the Labor side of politics, led by Mr Bill Shorten, who have openly committed to taking to the election policies that, if ever implemented, would increase taxes, not just on Australian businesses—I don't know why they've declared a war on the engine room of the Australian economy, businesses that create jobs for Australians—but also on individual tax-paying Australians. It is a fact that if you increase taxes on businesses they will not be able to expand, they will not be able to prosper and they will not be able to grow. The logical end point of that is that, under the policies that the Labor Party have committed to take to the next election, we will see businesses shed employees. That is not good for the Australian people. On this side of the chamber we know that if you put in place the right economic policies you see more Australians in work.