Senator CORMANN ( Western Australia — Minister for Finance, Leader of the Government in Senate, Vice-President of the Executive Council and Leader of the Government in the Senate ) ( 14:06 ): The first point I would make is that since we came into government about 1.5 million new jobs have been created—1.5 million new jobs. When we came to government, we inherited a weakening economy, rising unemployment and a rapidly deteriorating budget position. The unemployment rate was on track to reach 6¼ per cent and rising. The unemployment rate today is 5.3 per cent. Let me also say that employment growth in the 12 months to the end of October 2019 was two per cent—two per cent is above the decade average of 1.8 per cent. Now, of course, the Australian economy is facing headwinds. We're facing global economic headwinds— Opposition senators interjecting— Senator CORMANN: The Labor Party can laugh about this. Their floundering shadow Treasurer, who is chasing Albo's job, is taking great pleasure in talking down the Australian economy. Let me tell you: if he wants to keep talking down the economy, he can go right ahead. The truth is that our economy and our jobs market are in a better position than they would have been if Labor had been able to implement their $387 billion in higher taxes and if Labor had been able to implement their antibusiness, socialist agenda, which would have harmed the economy, led to higher unemployment and would of course have left every Australian worse off. The PRESIDENT: Senator Gallagher, a supplementary question?