Nick Minchin (SA, Liberal Party, Minister for Finance and Administration) Share this | Hansard source

I thank Senator Sherry for the question. He is right: inflation is a significant issue and one that we certainly take very seriously. I think the answer should be set against the fact that under our government inflation has averaged 2.6 per cent, and under the previous government it averaged 5.2 per cent. To that extent the Prime Minister is quite right to say that, over the period of our time in government, inflation has actually been half the rate of inflation that occurred under our predecessors, the Labor government, when inflation got completely out of control.