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

The world economy is experiencing the sharpest downturn in living memory, something that those opposite will not acknowledge. The consequence of that is they cannot support any of our measures to boost demand in the Australian economy. Our measures are boosting demand in the Australian economy through economic stimulus, which they oppose.

There are some other figures out today. The ABS has figures out today on industry employment. They show something really interesting. We do not want to overstate these figures, but I think they are very important. These figures show that retail trade in Australia grew by 16,000 people in the three months through to February. I will tell the shadow minister what it fell by in the United States: 130,000 people.

Those opposite refuse to acknowledge that, in the middle of a global recession, governments must act. This government has acted. It has acted decisively. They come into this House and say to us that we are involved in irresponsible spending, whilst at the same time they are giving $1.6 billion to the alcohol industry. How does that work?

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