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

I withdraw. A letter from Joe Hockey, the shadow Treasurer, to the editor of the Financial Review, says:

The Reserve Bank of Australia recognises that this is no longer appropriate and is now in the process of moving interest rates back to more normal levels over a relatively short period of time.

He will tell the truth in the Financial Review, but he will not do it on talkback radio. He is constantly out there talking down our economy, and what he will not say is that interest rates are now 300 basis points lower than they were when the Liberals were last in government. I know he thinks he can wave that magic wand and put interest rates back at 1967 levels, but economic policy does not work like that. What we are getting from those opposite is a risky, extreme commentary which talks down the economy. On this side of the House, we will continue to support employment and small business to continue to support the Australian people and their continued employment.

See this speech in context