Stephen Jones (Throsby, Australian Labor Party) Share this | Hansard source

from the shadow Treasurer—but not one policy contribution. This is at a time when the rest of the nation and many around the world are celebrating not only the great contribution that the Treasurer has made but the fact that Australia stands almost alone throughout the world as an economy that is in good shape. It is not an accident that the economy is in good shape; it is in good shape because of the contribution of the Treasurer and of the Australian Labor Party over the last four years.

It is beyond the capacity of the member for North Sydney or the humour-challenged Leader of the Nationals to say anything nice, but they are not the only people who have had something to contribute to this debate. I have in front of me some contributions from eminent economists and people around Australia and around the world who wish to put on record their congratulations to the Treasurer. The World Bank president, Robert Zoellick, had something nice to say. He said that to be named as Euromoney Finance Minister of the Year is a 'significant and deserved' honour and that under these tough economic conditions it is a 'tremendous achievement'. He said:

Australia's economic fundamentals are strong, strengthening Wayne Swan's global influence.

He continued:

This is the second time in the history of the awards that Euromoney's finance minister of the year has gone to an Australian treasurer—

the first time it went to another Labor Party Treasurer—

a demonstration that Australia has benefited from the continuity of effective, influential treasurers.

But there is more. The managing director of Wesfarmers said that it was a 'great recognition' for the Treasurer and a 'vote of confidence' in the Australian economy, which has remained strong and resilient through tumultuous economic times. These eminent Australians and economists found it within themselves to say something nice about the phenomenal contribution of the Treasurer, but not those foul-mouthed, mean-spirited, say-no-to-everything people across the chamber.

Internationally, the Treasurer's achievements have also been recognised. Jim Flaherty, the Canadian Minister of Finance, had this to say:

I want to congratulate my colleague Wayne Swan on his selection as Euromoney's Finance Minister of the Year. He was a key ally as we weathered the global recession and worked with our international colleagues to strengthen the global economy moving forward. Treasurer Swan has been a strong supporter of our work in support of strong, sustainable and balanced growth in the context of the G20 framework for growth.

Those opposite could not find it within themselves to say anything nice because it is not within their DNA. It is the Australian way that when an Australian is recognised—for example, when Cadel Evans or Sam Stosur make a contribution on behalf of Australia and they are recognised internationally—we put partisanship behind us and we have something nice to say. We congratulate those people, but those opposite do not. I rather suspect that if those opposite had information in their possession that Santa Claus believed in climate change they would be moving in this place to outlaw Christmas. That is how mean spirited they are. They have nothing positive to say. In 20 minutes worth of contribution on the challenges of the Australian economy there was not one policy proposition.

Let me inform the House that Australia stands almost alone amongst developing nations when you look at the state of our economy. We have unemployment levels below five per cent.

A government member: It is 20 per cent in Spain.

I am reminded by my colleague that there is 20 per cent unemployment in Spain. The unemployment level amongst European countries is around eight per cent. In the US it is north of 10 per cent. And we have an unemployment level of five per cent. It is the view of all on this side of the chamber that at five per cent it is still too high, and we are doing everything within our power to bring that down.

While we are on the subject of the state of our economy, let me talk about interest rates. Interest rates are one of the key factors which drive business confidence and one of the key things that affect every household in this country. The interest rates are still lower than they were when we took office. Investment is at record levels. With over $450 billion lined up—a pipeline of investment of over $450 billion over the next 4½ years—our economic outlook is good.

Whilst I am on the subject of the economic outlook let me say that we do not manage an economy soundly as an end in and of itself; we do it in the interests of ordinary working people—a factor sometimes lost on those opposite. They did not have it within themselves, when making their contributions in this chamber this week, to remark once that this is the week when pensioners will receive a $20 per fortnight increase in their pensions. We were able to do that because we have the interests of ordinary working people and pensioners at the forefront of our minds as we manage the economy. We have introduced a fully-funded paid parental leave scheme. We have introduced revolutionary reforms to ensure that families with kids at schools are able to get some assistance with their education expenses. We have introduced improvements to the research and development tax expenses. And we have doubled the rate of returns for those people struggling to put their kids in child care so that those people can attend work.

When we manage the economy we do it in the interests of ordinary working people, and these are things that we are able to deliver to them. We are alone in the world not because of an accident but because of the decisions the government took throughout the global financial crisis. So it is right and proper that we recognise the contribution of the Treasurer in that good economic performance.

When we contrast our policies, and the way we are managing our economy through some of the most difficult and challenging times, with those of the opposition we see that there is a stark contrast. We see on the other side of the chamber a group of people who are anti everything. We saw one of the most despicable displays in this chamber this week when the member for Mackellar got up in here and personally defamed a great Australian, the former head of Treasury, Ken Henry, and virtually accused him and other Treasury officials of corruption and dereliction of their duty—in the comfort of coward's castle. They would not step outside the chamber and say that; they used parliamentary privilege to do that. The only reason that they did that was that they bag everyone who gives them advice that they do not like.

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