Mr LLOYD (9:45 PM) —I am pleased to rise tonight in the national parliament to speak on Appropriation Bill (No. 3) 1999-2000 and Appropriation Bill (No. 4) 1999-2000 because it provides me with an opportunity to highlight to the parliament and to the Australian people the real progress being made in the Australian community as a direct result of decisions taken by the Howard government since it was elected to office in 1996. The Labor opposition and some sections of the media obviously do not want to give any credit to the government for the significant progress that has been made over the last four years. The opposition have no plans, they have no policies and they seem intent on embarking on a campaign of scaremongering, with a different scare tactic every single day, obviously up until the introduction of the new tax system on 1 July this year.

Much of this scaremongering is based on untruths and inaccurate information. Quite frankly, I believe that the Australian community is not going to fall for this con trick. They know that the Labor opposition is totally incapable of providing legislation, vision and policy that will allow this country to move forward and to provide a strong standard of living for all Australians. Already, Victorians are starting to rue the day they threw out Jeff Kennett and replaced a strong government with strong financial strategies that were bringing jobs and prosperity to Victoria. In its place, they have put in an unknown Labor government led by Steve Bracks. As I said, they are already starting to rue the day they ever did that.

Victorians are starting to see the results of having a Labor government in power in Victoria and allowing the unions to again control the state. Certainly, Steve Bracks has experienced a disaster week as Victorian Premier. I saw that the media was providing a disaster a day coverage. Victorians have just suffered their first power restrictions in more than a decade, restrictions that have cost jobs and productivity and inconvenienced the whole of the state. It now seems that those power restrictions in fact may not even have been necessary. They have already had a general building strike. They have had the failure of the $485 million studio city development at Docklands, and I understand that Mirvac has postponed a $1 billion apartment plan and that the MAV Corporation now says that its $900 million new key precinct project could also be in doubt.

These are hard, tangible facts, showing that companies will not invest in areas where they have no confidence in the government. Under Jeff Kennett and the former Liberal-National Party coalition government in Victoria, Victorians were enjoying an increasing standard of living. They were enjoying confidence in investment that brought jobs and prosperity to Victoria. In fact, many of us in NSW were quite jealous on a number of occasions about the number of industries that were attracted to Victoria and the number of major sporting and cultural events that Jeff Kennett managed to pinch from other states.

Of course, all these were creating further prosperity and further employment opportunities for Victorians. Obviously, all of that has now changed under a Labor government in Victoria which, as I said, appears incapable of controlling the unions and incapable of continuing that prosperity for Victoria. Certainly, nationally the Australian community, whilst I acknowledge that there are difficulties in many areas of Australia, understands that the only way forward for Australia is to have, and continue to have, a Liberal-National Party coalition government under the strong leadership of our Prime Minister, John Howard.

A casual comparison of some of the key economic figures between the last days of the Keating Labor government and the first four years of the Howard coalition government illustrates quite clearly the strong progress that has been made, progress that has only been brought about by strong legislative change and the continuing reform process. The inflation figure for the December quarter of 1999 was 1.8 per cent. For the comparable period in 1995, it was a massive 5.1 per cent. Productivity grew by 2.4 per cent through the year to June 1999. Over the same period in 1995, productivity in Australia fell by 0.2 per cent. Over the year to the June quarter in 1999, real wages grew by 3.7 per cent. Over the same period in 1995, real wages growth was zero, absolutely nothing, under the Labor government. In the year to November 1995 the unemployment rate was a massive 8.5 per cent, coming off an unbelievable peak of 11.2 per cent. Over the year to November 1999, the unemployment rate was 6.7 per cent.

Since our government was elected, 596,300 new jobs have been created in the Australian economy. This is 200,000 more jobs than Labor created in its last six years in office. Back in 1995, the variable mortgage interest rate was 10.5 per cent. In November 1999 the rate was 6.8 per cent, giving many more young Australians a real chance of owning their own home. Even today, at 7.3 per cent, there is a saving of approximately $266 per month on the average mortgage. That is a saving that can go straight into the pockets of young Australians, straight into buying extra goods for themselves, possibly extra benefits for their children and helping to pay for the family budget. That is real relief that has been provided by the reforms of the Howard government.

Over the year to June 1999, the budget recorded a cash surplus of $4.2 billion. Over the year to June 1995, the budget was in deficit by $13.2 billion. There have been 140,000 new apprenticeships created, and that is an increase of 15 per cent since 1995. None of these improvements would have happened if the government had not had the fortitude to take the difficult decisions that were needed to reduce the massive deficit that Labor left us and to make other legislative changes, such as improvements to our industrial relations laws. Even the ACTU knows that Australians have benefited from the Howard government's policies. In their 1999-2000 living wage submission—something that was highlighted in question time today—the ACTU said:

The Australian economy is clearly characterised by strong economic growth, low inflation, moderate wage growth and improved international competitiveness. Unemployment over the past year has also declined remarkably with the strength of Australia's labour market performance showing encouraging signs for the year ahead.

Even the ACTU concedes that the Howard government is making the right decisions for the Australian community.

Quite simply, if the Howard government had not made the changes that we have, Australia would not have survived the Asian economic crisis, and our high standard of living would have been severely eroded. I think many people in the Australian community have not realised how critical it was to reduce that deficit and to have sound economic management at the time of the Asian crisis. Australia was the only country in the Asia-Pacific region to escape the decimation of the Asian economic crisis. If we had not addressed that deficit, the international market could have helped to bring our Australian dollar down, and we would have seen rising prices, rising inflation and rising interest rates. All of these would have helped to erode our high standard of living and, in turn, could have destroyed many dreams that Australians have had over the last many years. As it is, Australia has emerged as one of the strongest economies in the region, and I am very proud to be part of a government which is providing greater opportunities for all Australians.

It is, however, very important that we continue to make these changes, to ensure that all Australians have opportunities to continue this prosperity and to continue to be able to fulfil their dreams and ambitionsand providing a better and more efficient tax system is an important part of these changes. If we do not modernise our tax system, and if we keep the outdated 1930s indirect wholesale sales tax, future governments will not have the resources to pay for health care, education, police services, social security benefits and many of the other support services which our community demands. While the Labor oppositionand some sections of the media concentrate on the negativity and the scare campaign of the GSTconcentrates on personal and vicious attacks on our Prime Minister and his family, the coalition government is getting on with the job of creating sensible reforms to allow the economy to expand and to continue to create more jobs for young Australians. Instead of concentrating on the negativity of the new tax system, with inaccurate and, in many cases, untrue information, the Labor Party would be better concentrating on some of the positives and highlighting some of the real gains that will be made under the new tax system.

For example, I have not heard one word about the first homeowners scheme that will be introduced on 1 July 2000. Under that scheme, all eligible first homebuyers will receive non-means tested assistance of $7,000 towards the purchase of their first home. I have not heard one word about that, particularly from the Labor opposition, nor have I seen it highlighted anywhere in the media. I believe that this is one of the best parts of the whole package. The scheme will cover all Australians who wish to purchase their first home. If they are married or living in a de facto relationship, they can make a joint application with their spouse or de facto. To apply, neither person can have owned a home before. People will be eligible if they are buying or building their first home, are an Australian citizen or a permanent resident, intend to make the home their principal residence, and start living in that home within a reasonable time. The payment will be made regardless of income, and it will be the same regardless of the area in which people are buying or the value of the home. It does not matter whether they are buying a new or an established home, and the home can be a house, a unit, a flat or any other type of self-contained fixed dwelling that meets the local planning standards.

You can see that being able to access that $7,000 is a great opportunity for all Australians who are looking to buy their first home. The fact that it does not relate to the cost of the property is a great benefit to those people in rural and regional areas of Australia. One of the media outlets in Sydney recently highlighted the difference in home prices between some of the towns in western New South Wales and the suburbs of Sydney. They showed one town where you could buy seven homes for the same price you would pay for a flat on the North Shore of Sydney. So you can see that people in rural and regional Australia who may be trying to purchase a home for $50,000 or $60,000 will have the same access to that $7,000a very significant amount towards helping them make that startas people in the city. It will be a great lift for any young Australians who want to buy their own home.

This encouragement, this tremendous boost for those who are seeking to achieve the great Australian dream of having their first home would not be possible without the introduction of the new tax system. It is something that Labor could never provide. They have no policies on tax; they seem to be against everything and do not seem to have any direction whatsoever. We are now seeing some of the lowest interest rates that we have seen in Australia in living memoryafter all, it is still possible to get a home loan at around the six per cent or seven per cent mark. Most of us in this place remember the late 1980s, when we had home loan interest rates of something like 14 per cent to 16 per cent. Obviously those opposite in the Labor Party do not want us to remember those times, but it was not that long ago. Under the Labor government you did not have a hope of even thinking about buying your own home.

Moving around my electorate, I have met literally hundreds of young couples who have now purchased their homes. In the last four years, they have fulfilled the great Australian dream of having their own home, and it is because of the economic conditions the Howard government has put in place. Under the Labor government, I saw many young people lose their homes in `the recession we had to have'. I saw them lose their homes and lose their dreams because of those interest rates and because of `the recession we had to have'. The policies of the Liberal-National Party government have maintained a low interest regime and, with the introduction of the new tax system and the introduction of the First Home Owners Scheme, home ownership will again become a real possibility.

I am sure that the Labor opposition will continue their scare campaign on tax reform. They will work up a scare campaign every day between now and 1 July. It is only a smokescreen, because they have no direction and they have no policy on tax. They have no policy on anything; they just continue to run a scare campaign. I honestly believe that, once this new tax system is in place, people will see the benefits of it, will feel the tax cuts in their pockets and will realise how simple the system is. It will be very much like the Y2K bug. The Labor Party will try to whip up a frenzy before 1 July. Once 1 July comes and goes and everyone realises that life continues as normal and finds they are getting many advantages from that new tax system, they will wonder what the Labor Party were on about and will see that it has all been a complete sham.

There is a lot of negativity in the media, but I want to highlight that some media are also doing some surveys. A local Sunday paper in Sydney ran the headline `91c cheaper', which referred to the result of a survey that showed that under the GST your local shopping bill will be 91c cheaper. The article said:

The weekly shopping trip will cost less after July 1 under the GST, contrary to a widespread belief that grocery bills will rise.

In the most comprehensive survey yet undertaken into the effect of the new tax on household costs

this newspaper found—

... that a $185.63 trip to the supermarket will cost nearly $1 less each week.

It shows that the scare campaign really has no substance.

Whilst I am on my feet on the appropriations, I will also record that the Graham Park North Power Stadium was opened in Gosford on Sunday, 6 February. This stadium is a magnificent 20,000-seat facility and has been made possible only because of a $12 million grant from the federal government, under the Federation Scheme. It is something that Gosford has long looked forward to. It was great to watch our new amalgamated team of North Sydney and Manly, the Northern Eagles, against our `foe' from the Central Coast, the Newcastle Knights. It was fantastic that they won 24 to 14 on that particular night, although I was disappointed to see that they could not overcome Canberra down here in the ACT recently.

It was a magnificent day. I was very pleased and honoured to have the Prime Minister, John Howard, there to officially open the stadium. Contrary to what the Labor Party might say, the Prime Minister was at the conclusion of his tour around regional Australia and he was very well received. It was a pleasure to be there. He was welcomed by many people. He had an opportunity to talk to many of my constituents on that day, and it was fantastic to see the number of people who came up to him, shook his hand and said that he was doing a great job for Australia. It is encouraging to see that so many people support what the Prime Minister is doing for this country. It was a great day.

The stadium will put Gosford on the map and will provide a facility not just for Rugby League but for Rugby Union. I believe the Waratahs are playing there tomorrow against a New Zealand regional side. It will provide a facility for first-grade soccer, baseball and cultural events. Having a venue on the Central Coast that is world class will help our young people. We have a population of more than 300,000 people. We have never had a stadium of this calibre on the Central Coast, and it is a great tribute to the federal government that it had so much faith in the area that it committed what was a very large sum of money to allow the stadium to be constructed.