Wayne Swan (Lilley, Australian Labor Party, Shadow Treasurer) Share this | Hansard source

Bananas! Do you know what? The Australian electorate picked that right away. They knew the Prime Minister and the Treasurer had gone bananas. It was a crooked defence, it was a shady defence and it was a sleazy defence—and it was an insult to the Australian electorate, who are being hit by rising prices across the full range of food items in the supermarket and across health and education, and they did not fall for it.

Then we had the Reserve Bank alibi. The week before last they were out there saying, ‘It’ll be the Reserve Bank’s responsibility; nothing to do with us.’ Pity about that advertising. Then of course we had the prosperity excuse. At one stage the Prime Minister and the Treasurer were out there saying, ‘They’re going up because we’re so good.’ And they expect the public to clap. They certainly were not clapping. Then we had to blame the homeowner, which of course was what he was doing to Mrs Bridgman. They picked his course there.

This government have to accept some responsibility. They were always out there claiming credit when the figures were good. They said it was their magnificent economic effort that produced a low inflation, low interest rate environment. Suddenly, when it turns into a high interest rate, high inflation environment, it has nothing to do with them at all. I think that says so much about this government. We have the worst Prime Minister in 60 years—that is what we have. And we have one of the worst Treasurers in our history. We have a Prime Minister who bequeathed to this country his record: 21 per cent interest rates. They cannot speak with any credibility on interest rates anymore. (Time expired)

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