Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Hansard source

I thank the member for Boothby for her question because she, like all members on this side of the House, is working hard to grow the Australian economy, an economy that is growing at 3.4 per cent through the year, its fastest rate since the height of the mining boom, an economy where we've seen more than 1.1 million new jobs being created, an economy where our budget is on track to come back to balance a year earlier than expected. And today we heard from Fitch, one of the leading credit-rating agencies in the world, reaffirming our AAA credit rating.

What they said in their report was that they praised the government for its sustained spending restraint, for its budget repair strategy, and forecast that we would return to surplus as expected. But Fitch also had some words to say about the housing market. While they said that there is now an orderly transition, they did warn of a sharp decline. What would cause a sharp decline? A larger pull-back from investor demand. What have Standard & Poor's said? Very similar—

Ms Ryan interjecting—

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