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Thursday, 4 July 2019
Page: 364

Economy


Mr ALBANESE (GrayndlerLeader of the Opposition) (15:15): My question is again addressed to the Prime Minister. Why has the national economy fallen from the eighth-fastest growing economy in the OECD when they were elected in 2013 to the 20th today?


Mr MORRISON (CookPrime Minister and Minister for the Public Service) (15:15): I'm pleased to see that the Leader of the Opposition is being very inclusive with his new team today—very inclusive! Apparently they're a team of one on that side. I suspect that speaks volumes about the support for the Leader of the Opposition.

GDP growth, the growth of the economy today, is stronger than every G7 economy except the United States. We are in the 28th year of uninterrupted growth. Our economy, when I was recently at the G20, is the economy that other world leaders want to know more about because of its success. One of the reasons they want to know that is because 1.4 million jobs have been created on the watch of this government since we were first elected in 2013 and, importantly, it was at a growth of 2.9 per cent a year—2.9 per cent a year in jobs growth. When the Labor Party left office it was 0.2 per cent. So the rapid growth in employment speaks volumes about the Australian economy.

The Reserve Bank have said very clearly in their most recent statement that the Australian economy is growing, that the consumption growth looks forward, that the employment growth has continued to be strong, that a further gradual lift in wages growth is still expected and that there are tentative signs that prices are stabilising in the housing market in Sydney and Melbourne. We are creating 1,000 jobs a day. The alternative being offered by the Leader of the Opposition at the last election and that he now seeks to carry forward—

The SPEAKER: The Leader of the Opposition on a point of order.

Mr Albanese: This was one of the shortest questions ever asked of you—

The SPEAKER: No, I don't want to have a discussion.

Mr Albanese: Relevance—he needs to answer why it was eighth and now it's 20th. Why?

The SPEAKER: I think the Prime Minister is in order. There can be more than one reason.

Mr MORRISON: Our government is going to get on with the job of continuing to strengthen our economy. Our side of the House believes in tax relief. The Labor Party have come into this place this week and they have said to Australians that they have learnt nothing about the need to let them keep more of what they earn. What is it about tax relief and tax cuts that the Labor Party are so opposed to? Why do they cling to this outdated and moribund view that says you have to tax Australians more to grow the economy? We took an economic plan to the Australian people, which they endorsed. They rejected the Labor Party's plan of higher taxes. What is it about higher taxes that the Labor Party are so obsessed with that means they remain shackled to this view of the world?

The SPEAKER: Has the Prime Minister concluded his answer?

Mr MORRISON: No.

The SPEAKER: The Leader of the Opposition on a point of order.

Mr Albanese: It goes to relevance. They've been in government since 2013—

The SPEAKER: I'll ask the Leader of the Opposition to resume his seat and I'll give him the benefit of the doubt. The standing orders, which I think he was responsible for introducing, say that you can only bring up a point of order on relevance once in an answer.

Mr Burke: Raising a point of order under 91(e): in your earlier ruling, you said that the Prime Minister was in order based on the issues he was talking about then. Now he's gone down a completely different path, which is not consistent with the ruling you made.

The SPEAKER: I thank the Manager of Opposition Business for his point of order, but I'm the judge of whether the Prime Minister's being relevant. I am going to hear him for the next up to 19 seconds.

Mr MORRISON: The final say on who was better to manage the Australian economy was rendered by the Australian people at the last election, and it was the coalition government of the Liberals and Nationals. The Australian people have had their say on the economy, and they voted for the coalition government. (Time expired)