Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Hansard source

after another because a previous government unnamed allowed inflation to get out of control. It is a simple fact that, if you have upward pressure on inflation, what follows is that you get upward pressure on interest rates. That is what has happened—one rise after the other. If you consider the impact on running a business of 12 consecutive interest rate rises on the cost of capital to finance a business’s operation, this has a significant effect on the way in which they view their future operations. When it comes to dealing with this challenge for the future, this is why the government has placed front and centre the need to confront the challenge of inflation—something which the shadow Treasurer regards as being a fairytale and something which various other members opposite—

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