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

I draw the honourable member’s attention to the answer I gave in the House yesterday concerning the global bond rate—the bond rate which arises from the amount of public bonds on issue around the world, which from memory is around $83 trillion, of which Australian bond issue as a fraction equals 0.001. That is fact one. Fact two is that the assumption underpinning the honourable member’s question concerns interest rates in Australia. Let them absorb this basic fact: interest rates in Australia are now at a 40-year low. We have had six interest rate cuts in a row; we had 10 interest rate rises in a row under those opposite. Can I suggest that those opposite focus on the facts rather than simply again trying to talk the economy down with a rolling negative campaign to undermine business and consumer sentiment.

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