Julia Gillard (Lalor, Australian Labor Party, Deputy Prime Minister) Share this | Hansard source

The member for North Sydney no doubt insults the editor of the Financial Review with that remark. On the question that the Leader of the Opposition raises with me, on 12 October this year the government moved quickly and decisively to ensure confidence in the banking system. We did that in an environment where international competitors were moving. The Leader of the Opposition knows if we had not acted our banking system would have been seen as second class internationally. We made that decision on 12 October. We have acted to implement that decision. Every step of the way we have been dealing and consulting with people in the financial services sector and, of course, with our regulatory authorities. The Leader of the Opposition has had several positions—indeed, dozens of positions—since the day on which we acted. Some days he is in favour of the bank guarantee and the actions we took. Some days, in fact, he is so in favour of it that it is his idea. Other days he seeks to undermine confidence in the actions taken by the government and implies that had he been Prime Minister the action would not have been taken. Well, he cannot have it all ways. The government will continue on the course that it has set.

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