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

We absolutely understand that. The opposition claim that the collapsing commercial property prices will have no impact on a broader economy. How out of touch can you become with a sector that employs up to 150,000 Australians—150,000 Australians who do not matter at all to those who sit opposite. As I have already outlined, Treasury advises that a combination of weak demand and tight credit conditions could see up to 50,000 people in this sector lose their jobs. Of course, that will have tremendous flow-on effects to employment in other sectors.

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