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

We know that inflation at the moment is 4.2 per cent—the headline rate and the underlying rate. The underlying rate is the highest in 16 years—the legacy of those opposite. They will not put up their hands and accept any responsibility for creating this problem. As I said in the House yesterday, they expect the Australian people to believe that somehow inflationary pressures only began at 9 am on 26 November last year. They did not. They left a legacy of high inflation for this government to tackle. We are out there tackling it and they are trying to sabotage it.

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