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

Mr Speaker, I am talking about the contribution to inflation from the reckless spending of those opposite. In fact, the member for Wentworth admitted last week that he multiplied a grant application by a factor of five, from $2 million to $10 million—yet another example of reckless spending. There are numerous examples of reckless spending, as the Treasury pointed out only last week. Last week the member for Wentworth gave a 4,000-word speech arguing against fighting inflation. He argued against it. He also denied that we had a skills crisis in the economy. He went on to say that we were heading for a recession and then accused this side of the House of talking down the economy. What a record! Of course, he was then severely embarrassed when he claimed the Treasury had recommended a figure to the government when it came to the minimum wage. He was severely embarrassed about that and, when he was repudiated by the head of Treasury, he attacked the integrity of the head of Treasury. You cannot believe anything the member for Wentworth says. He never lets the truth get in the way of his political ambition. He will say and do anything. Thankfully, this side of the House understands the size of the inflationary problem and the need to deal with it. Those on that side of the House are the best friends that inflation ever had.

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