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

I was making the point that our recession-busting stimulus meant that Australia did not experience the capital destruction or the skill destruction that has been so damaging to so many other developed economies around the world. Opposition to that stimulus has got to be one of the most wrongheaded and incorrect economic responses that has ever been seen in this country. There was opposition to this stimulus. It was wrong, and it was the wrong economic call at the time.

But because this side of the House got that call right we are in the position to experience and to maximise the opportunities that will flow from growth in our region. The rock upon which we build this policy is, of course, strict fiscal policy. That is why we need a parliamentary budget office—so that people right around the country can examine the costings of various political parties in our House. That is why we are so strongly supportive of the Parliamentary Budget Office. But those opposite oppose it, because they are not serious or competent in economic policy.

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