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

This is for those opposite who are interested in talking the economy down—such as the honourable member who is currently interjecting. The ABS has forecast capital expenditure for the current financial year to rise by $99.75 billion. That is nearly $100 billion. This is the highest forecast on record. These are good figures for the Australian economy, particularly given the challenges which the economy is facing globally.

The honourable member referred to facts concerning his own electorate, and I respect the accuracy of what he has put forward today. Let me also put on the record some other facts which relate to capital projects underway across Australia. IBM has announced that it will set up a $10.8 million IT services centre at the Ballarat technology park, creating 300 new jobs in that city. In June, glass bottle maker Amcor announced a major expansion of the company’s manufacturing facility in Gawler. Amcor will invest $150 million to build a third furnace at that facility to increase capacity by up to 50 per cent. The port and rail infrastructure contract at Oakajee has been awarded an estimated investment of $3 billion. Ausminerals has committed $1 billion to an investment at the Prominent Hill copper gold project in South Australia, which will create 850 construction jobs and about 450 ongoing jobs.

Mr Hockey interjecting—

The member for North Sydney says that these are all thought bubbles. I would ask the member for Sydney to go to each of those business leaders—

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