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

I was asked about our economy as compared with other economies in the world, and our economy compared with other economies in the world is doing very well. But those opposite come in here day after day and talk it down. On the day that we have got a report from the OECD which shows that our economy is in good nick, which endorses the government's fiscal policy, they come in here and talk our economy down. On the day that we get a set of capex figures that show the strength of investment in the forward years not just in mining areas but also in non-mining areas, they come in here and talk our economy down.

But the OECD report today is undeniable. It shows that we have one of the strongest-growing developed economies in the world, and everyone on this side of the House is proud of that fact. But what the shadow Treasurer does is come in here and talk the economy down. We have got a AAA credit rating from the three major rating agencies globally, something that was never done by those opposite. We have got low unemployment. We have got a strong investment pipeline. We have got record low interest rates. We have got an economy which is in good nick but which is in transition, and what our budget was about was putting in place fiscal settings which would support jobs and growth. Those opposite will never support jobs and growth because what they support is what the member for Tangney said on the door when he let the cat out of the bag: they support austerity and the loss of jobs and very big cuts to the bone.

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