Mr ROBERT (Fadden—Assistant Treasurer) (15:34): This government will have an economic debate with those opposite any day of the week. We will compare the strength of the economy with the economy under the weakness of those opposite. We will compare the strength of our numbers with the weakness of theirs. We will compare the strength of the tax cuts of where we are heading as a country with the weakness of their $200 billion in higher taxes. This matter of public importance is all about the economy, and apparently those opposite think the economy is not working. Let me tell you what a strong economy delivers. In fact, I would encourage the opposition to get a copy of a booklet that shows what a strong economy looks like; it would outline what this government has achieved. Let's look at the definition of a strong economy. There were more than 1.2 million new jobs since we were elected in 2013. There were more than 100,000 new jobs for young Australians between the ages of 15 and 24 in 2017-18, the highest number of jobs in a financial year on record. That's strength. That is employment strength, compared with the weakness that $200 billion of new taxes will bring under those opposite. A strong economy has delivered lower taxes for households, with more than 10 million taxpayers receiving tax relief in 2018-19. That's what we've delivered: tax cuts for 10 million Australians. That's strength. What do those here think $200 billion of new taxes will deliver? It will deliver weakness. A strong economy is lower taxes for 3.3 million small businesses, which are employing seven million Australians. Those opposite have vowed to wind back some elements of that tax. There is the lowest level of welfare dependency in 30 years. That's what a strong economy produced: the lowest level of welfare dependency in 30 years. There is an extra $36 billion in schools funding over the next decade, which is, on average, a 62 per cent increase in funding per student. That's what a strong economy delivers. There is over $5.7 billion for drought relief, recovery and resilience. That's what a strong economy delivers. There is record funding for both Medicare and a new hospital agreement, plus a $1.25 billion community health and hospitals program. That's what a strong economy delivers. There is a fully funded National Disability Insurance Scheme with no increase in the Medicare levy. I can only imagine that those opposite will now try to tell us that the NDIS was fully funded when they left office. Is that what I'm hearing? Because it wasn't. The so-called full funding by Labor for the NDIS also had two or three other things that that was apparently going to fund. A strong economy under this government has delivered a fully funded National Disability Insurance Scheme. A strong economy under this government has delivered more than 1,900 new life-changing medicines, worth over $10 billion, listed on the Pharmaceutical Benefits Scheme. We can all remember, those who were here, one of Labor's latter budgets when they stopped funding any new medicines on the PBS. That is a fact. This government has put over 1,900 new medicines on the PBS. That is the dividend of a strong economy. There is a record $75 billion investment in major highway upgrades, local road projects, inland rail and a new airport in Western Sydney. That is $75 billion in infrastructure to allow Australians to get home sooner and safer. There is greater support and respect for our seniors and retirees, greatly expanded aged-care packages, record investment in defence and continued action to secure our borders. That's the dividend of a strong economy. That's what this government has delivered. We all remember, those of us who were here, that fateful statement on budget night 2012-13, when the then member for Lilley, the then Treasurer said: The four years of surpluses I announce tonight … 2012-13 was minus $21 billion in underlying cash. 2013-14 was $48 billion in deficit. What happened to the four surpluses announced that night— Dr Leigh: Announcing isn't good enough? Mr ROBERT: You've got to deliver. You have to deliver and that's what this government has done. That's what the dividend of sound governance has done. We have delivered. And if we ever want to compare that to those opposite—four surpluses announced in that 2012-13 budget, only to find a final budget figure of minus $21 billion, followed in 2013-14 by minus $48 billion. The old adage is so true—we all know it: you cannot trust Labor with money, because sooner or later they will run out of it and they will come looking for yours. The next thing, of course, is our plan for a stronger economy, to keep the economy strong. Labor have a plan for weakness—$200 billion in new taxes. That is a plan for weakness, while we have a plan for strength. Firstly, it is about ensuring government lives within its means, and that starts with not wasting taxpayers' money on pink batts and overpriced school halls. Secondly, we are returning the budget to surplus. The Treasurer announced in MYEFO that the budget will return to surplus in 2019-20, with a bit over $4 billion increasing to $12 billion and then $19 billion, with an underlying cash balance deficit this year of only $5 billion. Compare that to $48 billion in Labor's last year. Thirdly, it is about lower taxes. Australians will keep more of what they earn under the strength of the economic management by this government. They will lose more under the weakness of those opposite. Thirdly, we will back small, family, and medium sized businesses to realise their potential and create even more jobs. And, of course, I introduced the bill this morning to see depreciation for small businesses increase from $20,000 to $25,000 as an instant asset write-off. We as a government can do those things because we have stewarded the economy sensibly. We have ensured that we are living within our means and we are backing in the strength of that economy now with a stronger plan. Fourthly, we're ensuring affordable and reliable energy for householders and businesses by taking on the big energy companies, ensuring 24/7 reliable power and investing in hydro-electricity. Fifthly, we'll continue to build the transport and technology infrastructure we need. This will help to strengthen the economy and connect people, products and markets. By busting congestion in our cities and building the infrastructure of regional Australia we'll make life easier for families—projects like off-ramps, exit 41 and exit 49 in the electorates of Fadden, my electorate, and Forde; $1.2 billion for the M1, connecting the nation's sixth and third largest cities; and over $110 million for the next phase of the light rail on the Gold Coast. These are some of the core projects that good stewardship of an economy can deliver. Sixthly, we'll drive all of our industries forward. This means encouraging new technology and service industries and strengthening traditional sectors like resourcing, farming and manufacturing. We'll ensure all Australians of all generations have the skills they need for the jobs of today and those of tomorrow by funding more apprenticeships and with vocational education that responds to the strong economy we are driving forward. We will keep Australians working together by supporting productive, cooperative and law-abiding workplaces. Everyone knows we cannot afford a throwback to the lawlessness and conflict that comes when militant union bosses have too much power. No-one wants to go back there. No-one wants to go back to pattern bargaining. People want to move forward sensibly together. We will keep big businesses accountable, and you've seen that by this government acting on all 76 recommendations of the royal commission—while we all wait for what the opposition is going to do. We will keep big banks accountable, and you've already seen that through BEAR, the Banking Executive Accountability Regime, and through the banking levy. You've seen what we've done with multinational anti-avoidance law and base erosion and profit shifting, where already we have booked, in cash, $5.7 billion extra through taxation, including a billion dollars for the e-commerce— Dr Leigh: Labour laws— Mr ROBERT: The shadow assistant Treasurer said 'labour laws'. You voted against the MAAL, you goose. You voted against it. Lastly, we'll continue to expand opportunities for exporters to create even more jobs. That is the dividend from a strong economy. All that those opposite have to offer is more weakness.