Senator BOSWELL —My question is directed to the Leader of the Government in the Senate. As a result of the coalition government's responsible economic management, there are improving signs for Australians seeking work.

Senator Schacht —Ask him about telephones.

The PRESIDENT —Senator Schacht, you have had your opportunity to ask a question.

Senator BOSWELL —In particular, I refer to the 14.9 per cent increase in ABS job vacancies, the massive drop in small business interest rates and today's ANZ job advertisement figures which show a further rise in March. How is this environment of low interest rates, low inflation and low debt assisting Australian families and small business operators?

Senator HILL (Environment) —Madam President, that is a very good question, and one of the interesting aspects is that job questions are now only asked by the coalition in this place. The issue of unemployment is off the Labor Party agenda, firstly, because they have no policies, and, secondly, because it is embarrassing that the coalition is doing so well.

Senator Forshaw —Oh really?

Senator HILL —The Labor Party may not have witnessed it, so I now have the opportunity to remind you. I will remind you of this particular good news. Firstly, last Thursday, the ABS job vacancy figures for February recorded a massive 14.9 per cent increase for February—good news! Secondly, private sector vacancies are now at their highest level since 1979. Between November and February, there was a 61,400 increase in private sector job vacancies. Today's ANZ job advertisement figures show the number of job advertisements to be 18.5 per cent higher than in March of last year.

Senator Cook —Off a low base.

Senator HILL —The leading indicator on employment, DEETYA, continues to rise, Senator Cook—up 14.1 per cent in the last year. The latest Drake International job survey has found that total employment should grow overall, despite the Asian crisis having an impact in some sectors, with an annualised rate of increase at two per cent. So all the signals are there for increasing employment in this country. That, I remind you, is to be added to the 220,000 jobs that have already been created since the coalition government came to power. So that is good news; that is probably one of the most vital issues facing this country.

Why is it occurring? One of the reasons is that we now have the lowest business interest rates in 25 years, giving small business a chance, responding to their needs and enabling them to expand and to grow. I mentioned last week the good news of Westpac bringing down interest rates for small business. I asked that it be followed by other banks, and I am pleased that the Commonwealth Bank has announced reductions in small business interest rates—more good news for Australian business. We would like, of course, to see the other banks do it as well. We estimate that this could be a saving of $300 million a year off the bottom line for small business in this country, giving them again the opportunity to further grow and expand.

So what we have been able to deliver for small business is lower interest rates—the lowest in 25 years; what we have been able to deliver for the family is lower housing rates—the lowest in 30 years; and, of course, inflation is now down to the lowest level in 30 years, so that people can retain what they earn rather than lose it as they did during the days of Labor.

Just contrast it briefly. Remember the highs of Labor—its great achievements? Small business interest rates—20 per cent; home loan interest rates—17 per cent; one million unemployed—11.2 per cent of the Australian work force. What a contrast with a government that is getting on with the job, getting the fundamentals right, cutting back expenditure and giving small business the chance to grow and expand, which is now resulting in substantial reductions in unemployment and increases in employment. That is good news for Australia.

Senator BOSWELL —Madam President, I ask a supplementary question. Senator Hill, are you aware of any alternative proposals for job creation, and how do these stack up against the government's policies?

Senator HILL (Environment) —As I said, the Labor Party, two years in opposition, offers no policy alternative.

Senator Cook —You are out of order!

Senator HILL —Senator Cook presumably read the views of the Age on Saturday. It said:

It—

That is, Labor—

seems to have lost direction and purpose in early 1998.

That is spot on. The commentator went on to say:

Labor still seems to be on the outrunning tide of policy—away from the things with which it came to be associated in government.

Labor does not know which way to turn. Its policies were a failure. It left the incoming government a $10.3 billion deficit. It does not know which way to turn. It has not even started the process of trying to develop itself into an alternative government. But when it does, perhaps it ought to start by concentrating on issues of employment—issues that are important to the Australian people, rather than some of the nonsense that it goes on with. (Time expired)