Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Hansard source

Well, for a range of reasons. Firstly, we faced significant headwinds offshore, and there is no doubt about that. We had had the biggest fall in the terms of trade in history. We inherited an economy that was facing rising unemployment. We inherited an economy that was facing bigger deficits. We started to turn it around.

Ms O'Neil interjecting—

Ms Claydon interjecting—

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