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

and other household goods, 9.9 per cent. This is occurring in the midst of the carnage on global stock markets and the collapse in demand and growth right around the world. This is a very substantial achievement, and it has been a very big boost to employment in this economy at a critical time for so many Australian families. I would say it certainly demonstrates the wisdom of the government’s approach in targeting our assistance, particularly to those who are credit constrained and who are on lower incomes, and it demonstrates why most of the economists around the world and most of the official bodies back our view that making these payments to people who are credit constrained and on lower incomes, and doing it in a lump sum, works. It works. Of course, we get this from the IMF most particularly. Just look at what John Lipsky had to say on 17 November—he is the deputy chief of the IMF, the former chief economist. He said:

For example, measures to support low-income households would be particularly helpful in boosting demand, and would be targeted at those most in need.

You can even go to the Business Council of Australia and their budget submission, and I could go on and on—

See this speech in context