Sid Sidebottom (Braddon, Australian Labor Party, Parliamentary Secretary for Agriculture, Fisheries and Forestry) Share this | Hansard source

Thank you, Mr Deputy Speaker Scott, and good evening colleagues. I have just been having a quick browse at the economic indicators in Australia. If I read those indicators correctly, Australia has an unemployment rate, an inflation rate and an interest rate below five per cent. If you believe those opposite and read News Ltd newspapers, you would swear this is the end of the world. Let me repeat it—unemployment, inflation and interest rates below five per cent. But it is the end of the world. I am not an economist but I have been doing a bit of reading and I can tell you that a percentile decrease in the value of the Australian dollar and the Howard government's introduction of the GST have had and will have more of an impact on the Australian economy than the clean energy future and a carbon price. But, boy oh boy, have a read of the News Ltd newspapers and listen to the opposition and it is the end of the world. Australia has an unemployment rate of below five per cent, an interest rate below five per cent and an inflation below five per cent.

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