Peter Costello (Higgins, Liberal Party, Treasurer) Share this | Hansard source

The RBA cited its reasons when it made its most recent announcements. The reasons were the strength of the global economy and demand in the Australian economy, particularly pointing at credit growth. It did not say anything about skills. I notice that there is a habit in the Labor Party of misrepresenting what people say. Nobody could have given a clearer example of that than the member for Grayndler in the question that he asked the Prime Minister earlier today. At an appropriate time, I will be making an explanation to show how he completely misled the House in the question he asked earlier.

Let me just conclude this point on this note. I sat in this House for six years in opposition and I can tell members of the House that never once in those six years did I hear anything about labour shortages, and I will tell you why. The Labor Party had 11 per cent unemployment. As far as problems go, it is much better to have jobs chasing workers than workers chasing jobs. The coalition is the party of employment; Labor stands for recession and unemployment. We now have a situation whereby we have the lowest unemployment in 30 years and that is because only the coalition can manage the Australian economy.

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