A stronger economy is the key to creating more and better paying jobs.
After four years of Coalition Government, there are now 997,800 more Australians in jobs.
In 2017, employment increased by 403,100, with around 75 percent of these jobs full time jobs.
More jobs were created in 2017 than any calendar year on record.
There has now been 17 consecutive months of jobs growth. This is the longest consecutive run of jobs growth on record. (The ABS labour force survey began 40 years ago, in 1978).
The Australian economy is creating, on average, more than 1,100 new jobs a day.
The new jobs created in this last year represent nearly five times the jobs growth in the last year of the previous Labor government.
We are working to build a stronger economy, with more and better paying jobs, by:
- Backing small businesses. For businesses with an annual turnover up to $50 million (that’s 3.2 million businesses, employing 6.7 million Australians), we have reduced company tax to 27.5% - the lowest level in 50 years. A $20,000 instant asset write-off is also helping small businesses invest in the cost of machinery and equipment.
- Record infrastructure investment. A record $75 billion investment over the next decade in major highway upgrades, congestion busting roads, public transport rail projects, inland rail, improved local roads and a new airport. This will cut travel times and create jobs.
- Affordable, reliable electricity. Our National Energy Guarantee removes costly subsidies (which are passed on to consumers) and establishes a reliability guarantee. This will keep the lights on, create certainty for investors to generate more electricity and take pressure off prices (which experts predict will fall by around $120 per year).
- Fixing the Budget. After Labor racked up $240 billion in deficits over six years, debt would be on track towards $1 trillion without our sensible savings. We have halved the growth in spending (from 4% increase per year under Labor, to 1.9%). The Coalition has reduced growth in debt by two-thirds. We are on track to balance the Budget by 2020-21.
- Fairer taxes. We’ve cut company taxes for 3.2 million small businesses and income taxes for 500,000 middle income Australians. New laws have closed loopholes for multinationals – with an additional $4 billion raised from multinationals last year. A new major bank levy will ensure the big banks pay their fair share. We will fight Labor’s plan for $200 billion in new and increased taxes – on electricity, small and family businesses, incomes, homes, savings, investments and retirement.
- Welfare to work. We are introducing significant reforms to ensure welfare recipients comply with their obligations to look for work. Our Youth Jobs PaTH (Prepare-Trial-Hire) program is helping thousands of disadvantaged young jobseekers.
- Tackling union lawlessness. We’ve banned secret and corrupting payments between businesses and unions, restored the Australian Building and Construction Commission (a tough building industry watchdog to tackle CFMEU thuggery) and created a new Registered Organisations Commission to make unions as transparent as companies.
- Boosting exports. In the past year, exports have increased by 4%, while rural exports have increased by 19%. Our landmark export agreements with China, Japan and South Korea - and recently, Peru - will generate more export opportunities for Australian agriculture, mining, manufacturing and service industries. We are continuing to work to secure better export access for Australian businesses. Australia took a lead role in negotiating the new Trans-Pacific Partnership - a Trade Agreement between 11 major economies (collectively worth $13.7 trillion) in our region, including Canada, Japan, Mexico, Singapore, Malaysia and Vietnam.
- Ideas and innovation. Our National Innovation and Science Agenda has already seen over 3,000 new investments in over 300 early stage innovation companies.
- Boosting our Defence Industry. While the previous Labor Government ran down our Defence Force and failed to commission a single new ship for our Navy, we have made a commitment to build up to 54 new ships. This will boost Australia’s Defence Force, while creating thousands of new skilled jobs.
- Putting Aussie jobs first. When Bill Shorten was Workplace Relations Minister, the number of foreign workers under 457 visas rose – from 68,000 (Dec 2011) to 110,000 (Sept 2013). The Coalition Government has replaced 457 visas with improved temporary skilled visas to ensure Australians get priority for jobs. Employers that sponsor migrants under the new temporary skill shortage visa and certain permanent skilled visas will be required to pay a levy which will go to the new Skilling Australians Fund. This will provide $1.5 billion to support up to 300,000 more apprentices and trainees to fill skills gaps.
Information current as at March 2018