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

No, they do not reveal that at all. What they actually reveal is the impact of the international financial turbulence from the US subprime crisis. What they really reveal is the impact of eight interest rate rises in the last three years. That is what they reveal. What they reveal is the impact of inflation at a 16-year high, the legacy of those opposite and something for which they refuse to accept any responsibility whatsoever. Of course, what such reports will also reveal in the future is the fact that we have an opposition that is intent on economic vandalism—economic vandalism in the Senate this morning, with measures to delay the introduction of this budget, which will cost the bottom line of the surplus $280-odd million. All those Liberal and National senators voted for higher interest rates in the Senate this morning. They voted for irresponsible spending. But those opposite simply do not get it when it comes to responsible economic management. They think you can go on spending irresponsibly and have no impact on inflation and no impact on consumer confidence.

Who was the author of this act of economic vandalism in the Senate this morning? We all know it was the member for Wentworth. Now, we heard about the member for Wentworth yesterday from his sponsored focus groups, and in the press today—

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