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Wednesday, 12 February 2014
Page: 217

Economy


Mr BOWEN (McMahon) (14:15): My question is to the Treasurer. I refer the Treasurer to the fact that 54,000 full-time jobs have been lost since the election and that this is a worse outcome than Australia experienced for the whole of the 2009 calendar year during the global financial crisis. When will the government take responsibility for these job losses?


Mr HOCKEY (North SydneyThe Treasurer) (14:15): I thank the member for the question. It might surprise the member for McMahon that we are unable to turn the economy around on a two-bob piece. We have to actually get through our legislative program, which actually helps to build a stronger economy. The best thing Labor could do is to help us repeal the carbon tax. And the best thing Labor could do is to help us repeal the mining tax. And the best thing Labor could do is to help us fix the budget. And the best thing Labor could do is to help us pay down the $123 billion of deficit that is Labor's legacy. And the best thing Labor could do is to prevent this country from ending up with $667 billion of debt, thanks to the largesse of Labor over the last six years. That is going to create the jobs. Lift the burden off business if you want to create jobs. The Labor Party does not understand: it is not the government that creates jobs; it is business that creates jobs, it is enterprise that creates jobs, it is small business that creates jobs.

Opposition members interjecting

The SPEAKER: The member for Moreton; the member for Adelaide will desist.

Mr HOCKEY: You've got to love the chutzpah of the Labor Party. They have got nothing else. They left us with an unemployment rate that is rising to 6¼ per cent. They left us with a deteriorating terms of trade, they left us with an economy that is slowing below trend growth, and now they complain about their legacy.