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

In the face of ongoing global uncertainty the Australian economy continues to outperform virtually every other advanced economy. In the year to March our economy has grown by 4.3 per cent. That is more than twice that experienced by other major advanced economies. So far this year 100,000 jobs have been created in Australia—800,000 jobs during the period of the government.

And over the year to March, private business investment has grown by 20 per cent, to be at its highest level of GDP in 40 years. And in the past year the advance stage of the investment pipeline in resources has grown by nearly $90 billion. Consider that: over the past year, investment in resources at the advanced stage has grown by $90 billion. All of this has happened in the full knowledge that a carbon price was starting on 1 July.

All of these facts about economic growth, about the performance of our economy over the past year, absolutely torpedo all of the lies that have been told by the Leader of the Opposition—absolutely torpedo the scare campaign that he has been mounting over the past year.

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