Craig Emerson (Rankin, Australian Labor Party, Minister Assisting the Finance Minister on Deregulation) Share this | Hansard source

’Oh!’ he says, as if he is so offended. Here is the opportunity for the member for Canning to come in, stand up, apologise and get out of this recidivist behaviour that he displays all the time, seeking to undermine our institutions.

In terms of the financial stability measures put in place that have been so heavily criticised by the Leader of the Opposition, who described the unlimited bank deposit guarantee as a very big policy blunder, the Business Council of Australia has written to the Prime Minister. This letter, which supports the financial stability measures, says:

Given the aforementioned strength of the Australian financial system, it could well serve as a role model for the development of the best global response.

So here we have the Business Council of Australia saying it is a ripper, it is a great initiative, and we have got the Leader of the Opposition saying it is a very big policy blunder. I would like to see the next meeting that occurs between the Business Council of Australia and the Leader of the Opposition, because in another area—long-term economic reform, which must continue through this global economic crisis; and we are committed to it—the Leader of the Opposition has his shadow minister for industrial relations, who orchestrated the rejection in the Senate of a very important measure in relation to occupational health and safety and the harmonisation of occupational health and safety measures in this country. And he is doing that as a Western Australian. He should know better, but, no, he is again repudiating the view of the Business Council of Australia and every respectable business organisation in this country who wants to see harmonisation of occupational health and safety and who wants to see good economic reform under this government—and who will see good economic reform under this government if you would just get out of the way; if you would stop being deliberately obstructionist for your short-term, miserable political gain. That is what you are doing.

You should get out of the way and let the reformers get on with the job of undertaking the economic reform that is necessary to rescue this country from the situation where, under the coalition government, we had the member for Higgins, the former Treasurer of this country, saying in 2007, ‘Productivity growth is at or ahead of the previous productivity cycle.’ Do you know what productivity growth was in the year 2007? It was not two per cent; it was not one per cent; it was not half a per cent. It was nothing—nil. The then Treasurer of this country said, ‘You beauty, we have got productivity growth down to zero.’ What a great achievement! There was zero productivity growth, which shows the sloth of the previous coalition government, which shows the complete disinterest in economic reform of the previous coalition government.

Debate interrupted.

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