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Thursday, 11 May 2017
Page: 4391

Budget


Mr ZIMMERMAN (North Sydney) (14:21): My question is to the Treasurer. Will the Treasurer outline to the House the right choices the government is making to ensure the Australian economy continues to grow to secure more and better paid jobs?

Mr Rob Mitchell interjecting

The SPEAKER: The member for McEwen will cease interjecting.



Mr MORRISON (CookTreasurer) (14:22): I thank the member for North Sydney for his question. On budget night, I announced the additions to our national economic plan to drive jobs and growth in this country. It is going to support more and better paid jobs because of the growth plan that this government has been pursuing—the growth plan that was endorsed at the last election and the growth plan that we have been implementing as a government: 160,000 full-time jobs in the last six months in the most recent data. This government is committed to the growth that delivers more and better-paid jobs.

Adding to that growth story is a $75 billion investment in infrastructure that boosts the Australian economy right across the country, whether it is in regional Australia or in our major capital cities. Whether it is runways or whether it is roads or whether it is rail, this is a government that is investing in nation-building infrastructure. This includes investing in energy infrastructure such as the national landmark of nation building infrastructure, the Snowy Scheme 2.0. And we continue to invest in our defence industry plan, with some $90 billion in a naval shipbuilding program. When those opposite were on this side of the House they could not even build a boat in a bathtub, because they could not even bring themselves to procure anything when it came to naval shipbuilding

We are backing in small business again with the instant asset write-off, giving them a tax cut. The question for the opposition leader tonight is: is he going to increase taxes on small business by reversing the business tax cut for small- and medium-sized businesses? If he does not do that, he is staring at a $25 billion black hole over the next 10 years, which means, once again, that we know that whatever he promises he can never pay for—just like it was when they were in government before. They would make these big promises about big spending, with no dollars behind them. It is a cruel and vicious hoax.

Ms Plibersek interjecting

The SPEAKER: The member for Sydney!

Mr MORRISON: We have already delivered tax cuts for businesses with a turnover of up to $50 million—that is 3.2 million businesses and that is 6.5 million working Australians who are now working for businesses that are under the burden and will be under the burden of a lower tax rate as a result of the decisions, the right choices, that have been made by this government to secure the better days ahead.

It is true that today we have reintroduced the remainder of our enterprise tax plan. Yes, it will cost $35.6 billion over the next 10 years, and that is an investment in Australia, because we know that, if we can lower the tax rate, that will draw the investment into this country—something those opposite used to believe in. I know the only two people— (Time expired)