Mr FRYDENBERG (Kooyong—The Treasurer) (14:23): I thank the member for Mackellar for his question. He has a small-business background, he chairs the House Standing Committee on Tax and Revenue and he's absolutely committed to strong fiscal management. When we came to government, business investment was in freefall, debt was rising and unemployment was at 5.7 per cent, and rising. Since we have come to government we have turned that around. Unemployment has fallen to 5.2 per cent and we've helped to create more than 1.4 million new jobs. The proportion of working-age Australians who are on welfare is now the lowest in 30 years, the rate of real growth in government spending is now the lowest of any government in 50 years, and the budget is coming back to surplus for the first time in more than a decade. The reason fiscal management and bringing the budget back to surplus are important is that future generations should not have to pick up the tab for the last. We need to live within our means. Responsible fiscal management helps to build resilience in the economy to deal with future shocks. Also, responsible fiscal management ensures that we can provide the services that Australians need and deserve. I'm asked: are there any alternative approaches? We know that those opposite are continually talking down the Australian economy. Could you imagine, now, with the challenges we face with flood, drought and fire and the global trade tensions, what the economy would look like with Labor whacking it with $387 billion of higher taxes? They're happy to talk down the economy, but they took to the Australian people $387 billion of higher taxes. Now the member for Rankin gets up and says he's committed to a surplus, but he's also talking about bringing forward tax cuts that he opposed. Dr Chalmers: We voted for them! Mr FRYDENBERG: I'll take that interjection. He called the tax cuts offensive. The member for McMahon said they were reckless. The Labor Party are happy to talk down the Australian economy and tell us our tax cuts were offensive. But then, when they pass the parliament, they want the credit. Get real, Member for Rankin. We know you want to tax a lot, but I'm thinking of taking back that knighthood that I gave you earlier. The reality is: the Labor Party can't manage money, and the Australian people know that when the Labor Party can't manage money they come after theirs.