Mr MORTON (Tangney—Assistant Minister to the Prime Minister and Cabinet) (15:19): When I saw this matter of public importance from the member for Rankin, I thought he couldn't be serious. But, then again, they're not serious people. They are in fact quite irresponsible, talking down the economy at a time when Australians need us to talk it up, to talk about the facts, to talk about the fact that Australia has entered its 29th consecutive year of annual economic growth and continues to show resilience. This morning, the Treasurer released the December quarter national accounts. Australia recorded its third consecutive current account surplus in the December quarter 2019, the longest consecutive period of current account surpluses since the 1970s. Given I was born in 1981, that is a long period of time for sure. Let me go through some of the facts. Let me go through some of the facts that are really inconvenient to those members opposite, particularly the member for Rankin. Today's data shows that our economy was accelerating at the end of last year, growing 0.5 per cent in the quarter. Through the year, growth picked up from 1.8 per cent to 2.2 per cent. We're growing faster than the OECD average and faster than any G7 economy except for the United States. But jobs are important, and this is a government that is committed to jobs for Australians. In compensation of employees, the nation's wages rose 5.1 per cent over the year, one of the strongest results in 7½ years and above the decade average. The average compensation per employee grew three per cent, the strongest result in over five years and, again, above the decade average. In 2019— Opposition members interjecting— Mr MORTON: See? Those opposite don't want to hear about the focus that we have on jobs. In 2019, 260,000 jobs were created. More than half of those jobs were full time and more than half were taken up by females. Our jobs growth in 2019 was almost double the OECD average and faster than any G7 economy, including the US. In 2019, average unemployment was 5.2 per cent. That is the lowest calendar year average since 2011. The participation rate hit a new record high of 66.2 per cent in August 2019. The female participation rate continued to reach new record highs. Ms Thwaites: What about the gender pay gap? Mr MORTON: I hear members opposite ask about the gender pay gap. A government member: They once cared about that. Mr MORTON: They did. It reached a new record low of 13.9 per cent. Thank you to those members asking that question about the record low, because we're going to do more. We are on track and we are meeting record lows. Cost-of-living pressure is something that we're concerned about on this side of the House, unlike those opposite, and that also eased in 2019. Over the year to 19 December electricity prices fell 3.5 per cent, the largest annual fall in 4½ years. We have the budget and the economy in a position of strength, and that is very important. Our plan for a stronger economy is about building resilience in the economy. It's about rewarding aspiration. It's about lowering taxes so you can keep more of what you earn. It's about reducing the cost of doing business, whether it be energy, deregulation, finance or getting paid on time. It's about equipping Australians with the skills that they need that Australian businesses also need. It's about expanding trade to access more markets and create more jobs. It's about building the infrastructure we need for our economy to grow. It's about keeping our budget strong to guarantee the essential services that Australians rely on but also to make sure that we're prepared to deal with the challenges they face—those real challenges that are now of concern to Australians. Australians have faced bushfire crisis, while others are continuing to battle the drought, and we recognise and are very thankful for the rain that we're seeing in some of those drought affected areas. Australians are facing the threat of coronavirus and, because of the strong economic and fiscal management of this government, we are better prepared than those opposite will ever give us credit for. The irresponsibility of those opposite to talk down the economy, to put fear into the minds of Australian families and workers is shameful on them. The Prime Minister has outlined our commitment to doing whatever it takes to help families, businesses, towns and communities respond to the coronavirus. The Prime Minister said on Tuesday: What we need to do is ensure that with the fiscal response that we will provide … that it is very targeted, that it's very measured and it's very scalable. On Monday he said: We will be focusing on ensuring that we keep Australians in jobs, we keep businesses in business, and we keep investment flowing during what will be a very challenging time for the Australian economy. It's about jobs, it's about cash flow and it's about investment. This isn't the GFC; this is a health crisis with very significant economic implications. When those health issues are addressed, this government wants to make sure that we bounce back, and our plan is about ensuring that Australian businesses and jobs and the economy bounces back as strongly as it can. The interim economic assessment from the OECD has already revised Australia's growth in line with revisions to global growth and growth across the G20. The OECD is forecasting that the Australian economy will grow faster than the economies in the United States, Canada, Japan, France, Germany and the United Kingdom in 2021. Responsible budget management allows us to deliver the first balanced budget in 11 years and it has given us the ability to respond to the crisis that is facing Australians today, to stand with them, to make sure that they have a government that is focused on their needs—not talking the economy down, not instilling fears in the minds of families and workers in this country but a government that's taking responsible decisions now to make sure that we deal with the issues that are important to them. In addition to dealing with the coronavirus, when we compare reckless approaches to our economy, we can also look at Labor's reckless approach to our economy in relation to their 2050 emissions targets. They have not learnt at all from the mistake at last year's election. Their target is without a plan. It's like saying you want to go somewhere but you don't know how to driver the car or you don't know how to put petrol in it—probably not the best example to use in relation to this debate. However, it's perhaps like getting in an electric car and going for a long drive, knowing there is nowhere to charge that up along the way. But it is completely irresponsible for those opposite to set a target for 2050 when they can't even agree between themselves on what their 2030 target is and how much that will cost. It is completely irresponsible of those opposite to set a target without being honest with the Australian people about how they'll get there. But we're at it again because all of the signs point to their secret carbon tax. There they were with a CSIRO report, supporting their target without a plan. The CSIRO report they were holding up modelled a $273 carbon price to get to zero net emissions by 2050. Now, you don't hear them talking about their secret plan for a carbon price of $273. The Leader of the Opposition failed seven times to rule out a carbon tax. The members for Hindmarsh, Corio, Hunter and Grayndler all last week failed to rule out a carbon tax. I challenge those opposite, those speaking after me: stand up; rule out the carbon tax; be honest with the Australian people on what your real road map is to achieve net zero by 2050. This government will reduce emissions by investing and supporting technology, not by taxation. We know that the only solution those opposite have when presented with a problem, whether it be about reducing emissions or dealing with natural disasters, is tax, tax and tax. There is no better evidence that Labor and those members opposite, and in particular the member for Rankin, cannot be trusted. They cannot be trusted with managing the economy, particularly at times when the Australian people need us the most.