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

Is it the shadow minister’s proposition that interest rates at 50-year lows could remain there forever? Is that the proposition he is putting forward—yes or no? I think the Australian people have a lot more common sense when it comes to this issue than those who are sitting opposite. They understand. They understand that interest rates could not stay at 50-year lows forever. They absolutely understand that. They understand that adjustments will be made. They also understand that the government put in place our economic stimulus at a time when this country was in dire need and under threat from a global financial crisis and a global recession. The consequence of that has been the best performance of any advanced economy.

That is really what gets up their nose—that in this situation the government has been effective, the government has been competent and the government has put to the forefront of all of its actions protecting the jobs, the families and the small businesses of this country. To score a political point, because they voted against that and they have been embarrassed about it, they are now calling for the complete withdrawal of all fiscal stimulus. That is the proposition that they have been putting forward, which would push unemployment back through the roof. If he really believes what he said, he is really saying that he is in favour of putting builders and tradies out of work. That is where they are.

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