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

MYEFO forecast modest growth and modest surpluses. What we said at the time of MYEFO and what the Treasury observed in MYEFO was that all the risks were on the downside and that if global conditions did deteriorate further then that would have an impact in the future. Of course, things have changed again dramatically in the last few weeks, and that is what the Prime Minister has reported upon today. But those opposite cannot accept the enormity of the global financial crisis, do not understand its magnitude and therefore cannot be part of the solution. We had the Leader of the Opposition here before talking about the collapse of Lehman Brothers, which was on 15 September. Around that time he was saying the magnitude of the crisis was all hype. Now he accepts it. Do not listen to what he says; listen to what he does. He comes into the House and calls for bipartisanship, and then he opposes the Economic Security Strategy.

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