‘Jobs for your kids’: How Scott Morrison plans a come-from-behind election win

In a landmark speech, Prime Minister Scott Morrison has pledged for unemployment to drop to levels not seen in almost 50 years as part of an economic recovery plan.

Australia will drop below 4 per cent unemployment this year for the first time in almost 50 years, Prime Minister Scott Morrison pledged as part of an economic recovery plan so “our kids can get the jobs they aspire to” and people can own their own home.

In a landmark speech, which had echoes of a campaign launch, Mr Morrison gave an address squarely focused on defending his handling of the pandemic while appealing to families with creating jobs and cost of living.

But on the cost of living, he admitted to not knowing the cost of a loaf of bread or litre of petrol and said he was “not going to pretend to”.

Prime Minister of Australia Scott Morrison doesn’t know the price of bread. Picture: NCA/ Gary Ramage

He also admitted he did not get everything right in handling the pandemic, while stopping short of apologising, Mr Morrison said the government raised expectations for the summer which “added to the disappointment” when the Omicron variant swept the nation.

Opposition treasury spokesman Jim Chalmers said the government had been reduced to a ”grab bag of patch-ups and panic buying, slush funds and scare campaigns”.

The Prime Minister is under pressure following dropping supporting polls, particularly from the handling of the Omicron wave.

Seeking to frame the election about economic recovery he said his aim was to get unemployment “with a three in front of it” by the second half of the year, taking aim at the Opposition saying now was not the time to take a chance on economic recovery.

“We have not seen this in Australia for almost half a century. This is a once in a lifetime opportunity,” Mr Morrison said at the National Press Club.

“It means that when our kids leave school, or finish their apprenticeship or university they can focus on the job they aspire to rather than worrying about whether they can get a job.”

If achieved it would be the first time unemployed dropped below 4 per cent since 1974, when it reached 3.7 per cent, and well below the 4.25 per cent forecast at the mid-year budget update.

Opposition treasury spokesman Jim Chalmers said the Prime Minister’s speech was a “grab bag of patch-ups and panic buying”. Picture: NCA NewsWire / Dan Peled

Mr Morrison said he “can’t manage what happens to house prices” but said first homebuyer scheme implemented by the Coalition were helping.

“We‘ll keep pursuing those policies – and there’ll be more – to help people get that first start in their home, as we have seen. And to ensure that we keep downward pressure – whether it’s on inflation or interest rates – to ensure that Australians can continue to get a go.”