16th Oct 2019, 11:47 AM – Representatives Treasury Laws Amendment (2019 Measures No. 2) Bill 2019 - Second Reading - Support economy

The majority voted against an amendment to the usual second reading motion that "this bill be read for a second time", which is parliamentary jargon for agreeing with the main idea of the bill.

Motion text

That all words after "That" be omitted with a view to substituting the following words:

"whilst not declining to give the bill a second reading, the House:

(1) notes:

(a) that this Government has no plan to support the Australian economy; and

(b) that, in the absence of any Government plan for the economy, the IMF has today slashed Australia's growth rate forecast to just 1.7 per cent—the lowest level in a decade—and predicts unemployment to stay stubbornly high; and

(2) calls on the Government to immediately undertake sensible economic action by:

(a) bringing forward infrastructure investments, particularly in regional areas;

(b) bringing forward part of its stage 2 income tax package to 2019-20 to provide relief for middle income earners, as this would have provided up to $1,350 a year to those earning above $90,000 three years earlier than currently planned;

(c) reviewing and responsibly increasing the rate of Newstart, as this would help to alleviate poverty, help people get into work, and would provide an effective and much needed boost to consumption;

(d) implementing a version of the Opposition's Australian Investment Guarantee to incentivise and boost business investment; and

(e) developing a comprehensive plan to boost wages, starting with restoring penalty rates for workers who are most likely to spend in the economy".