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Thursday, 4 July 2019
Page: 355

Economy


Mr ALBANESE (GrayndlerLeader of the Opposition) (14:44): My question is again addressed to the Prime Minister. The chief economist of the National Australia Bank has said:

In our business survey we're getting readings that are basically as bad, if not worse, than the bottom of the GFC.

What does that say about the economy on his watch, particularly for small business?


Mr MORRISON (CookPrime Minister and Minister for the Public Service) (14:44): The National Australia Bank business survey that came out after the election saw business confidence rise seven points following the election, and that is the largest single monthly increase in business confidence since the time of the 2013 election. Business confidence has been restored as a result of the re-election of this government. The reason it was under threat was because of the prospect of a Labor government. It was under threat because of the biggest risk to the Australian economy: those that sat opposite. The Labor Party wanted to tax the Australian people more, who, with their good grace and wisdom, go out there, work hard every day and run small businesses. They wanted to tax more the retirees who want to save and live off their savings.

I note, whether it was on the retirees tax, the housing tax, the small business taxes or the plethora of taxes; they all remain the Labor Party's policy. As I look down at the front bench of the Labor Party, I see the same old faces, the same old arrogance, the same old class envy and the same old smugness, which says, 'We don't think Australians should keep more of what they earn.' They think, on the Labor Party's side, the answer to a stronger economy is higher taxes. The Australian people disagree with them and they voiced their disagreement by telling them, in the lowest primary vote for the Labor Party in 100 years, that they are sick to death of Labor seeking to kill aspiration in this country.

This is a Labor leader who has more in common with Jeremy Corbyn than Paul Keating. We've seen the Snapchat. We've seen the Instagram posts. They're buddies in arms, all part of the new Labor agenda, which would take this country back decades and decades.

Our plan for a stronger economy was taken to the Australian people and it was endorsed by the Australian people. The Australian people rejected this mob; they rejected them absolutely and with good cause. Labor's policies, which remain unchanged, are to undercut and douse the aspiration of hardworking Australians. On this side of the House we will always stand up for hardworking Australians. We will always put forward policies that respect them and encourage them, while on that side Labor have learnt absolutely nothing by their rejection at the last election.

The SPEAKER: The Leader of the Opposition is seeking to table?

Mr Albanese: I seek leave to table an article from ABC News published on Thursday, 20 June 2019: 'Growing number of Australian small businesses struggling amid economic downturn'. That's June.

Leave not granted.