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

I thank the member for Curtin for her question and I inform the House that I am advised that since the end of April the US market has fallen by eight per cent, the UK market by 6 per cent, the euro markets by five per cent, Hong Kong by five per cent, Japan by nearly 11 per cent, and Australia has been down by just over six per cent. That is the first point. Can I also go to the second point, which I partly referred to before: Australia’s resources stocks have been down over the same period by about five per cent. That is less than the overall ASX. Let’s just be very clear about that.

Furthermore—and I draw this to the honourable member’s attention, because facts are a problem when you are running a fear campaign—over the same period of time the Canadian resource stocks have been down by about six per cent and Australian stocks by five per cent. Can I just say to those opposite: I do not think there is a debate in Canada at the moment about tax reform in the mining industry. I would suggest to her that she actually pay attention to factual analysis of what is happening around the world. The member for North Sydney sought before, frankly, to mislead the House in terms of key facts concerning projects. We have had that now from the member for Curtin—

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