The Prime Minister was talking out of his hat during Question Time today when he claimed that:

The Labor Party on the other hand does not have a single policy that would encourage one business to invest one dollar or hire one employee. They have no policies at all. The Labor Party has none.

Only a few weeks ago, Bill Shorten and I announced Labors pro-jobs and pro-investment Australian Investment Guarantee policy.

Unlike the Turnbull Governments $65 billion company where up to 60 per cent of the handout flows directly to foreign shareholders, Labors Australian Investment Guarantee only provides tax relief to businesses who invest in Australia.

Under Labors Australian Investment Guarantee, all businesses in Australia will be able to immediately deduct 20 per cent of any new eligible asset worth more than $20,000, with the balance depreciated in line with normal depreciation schedules from the first year.

Labors Australian Investment Guarantee is fully funded and comes at only one seventh of the cost of the Governments company tax cuts.