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

It seems that the member for Sturt and all those opposite are simply provoked by a presentation of the truth, because the truth to which I refer was uttered by none other than the member for Higgins, the Leader of the Opposition in waiting. In the events of 2002, the member for Higgins said that Australia could not be immune from global economic developments as the world goes into a recession. He said so when global growth was at 2.8 per cent. These days, it is running at less than zero, according to the World Bank. He said so when US GDP growth was running at 1.3 per cent in the June quarter of 2002. US GDP growth is now running at minus 1.6 per cent. He said so when unemployment in the United States was running at 5.8 per cent in May 2002. These days, it is running at 8.1 per cent.

Under those circumstances, which were considerably less stressed globally than they are today, the member for Higgins, on behalf of the Liberal government at the time, said, ‘The idea that Australia was somehow immune from these world events, that is just fanciful.’ I would draw those opposite to a close and careful study of the member for Higgins’ observations in times when we did not have a synchronised global economic recession, the great recession which we are now presented with the challenge to deal with. This government is getting on with the job. We have a strategy in place to reduce the impact on Australia. Those opposite have a political strategy, instead, just to take political advantage from the crisis. The contrast to the Australian people is absolutely clear.

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