Foreign-based companies could soon be lured to Australia with the incentive of tax breaks.

Senior cabinet minister Peter Dutton hopes the plan gets off the ground.

“We need to grow jobs,” he told the Nine Network on Friday.

“It’s OK that we’ve got support in place at the moment with JobKeeper and JobSeeker – that’s fine and that’s a good thing – but to get to the next stage we need to have investment.”

Australia has plunged deep into recession after the economy shrank seven per cent in the June quarter.

More than one million Australians are unemployed and 400,000 more are expected to join the dole queue before Christmas.

The jobless rate is still expected to climb to 10 per cent by the end of the year and remain stubbornly high for many months.

Labor deputy leader Richard Marles wants to hear more than “hope” from senior government ministers.

The opposition argues tax breaks alone are no substitute for a comprehensive plan on jobs.

“Small business is facing the biggest crisis it has in Australia’s history and we hear nothing from this government about what they are going to be doing for them,” Mr Marles told the Today Show.

“We need to have a jobs plan from this mob right now.”