Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Opposition in the Senate) Share this | Hansard source

My question is to Senator Minchin, the Minister representing the Prime Minister. Does the minister recall saying in question time on 11 May 2005:

… there have been no further interest rate increases, because of the tremendous record of economic management of this government …

Can the minister advise the Senate whether this is the same economic management that has now delivered nine interest rate rises in a row to working families? Is it the same economic management that has caused today’s interest rate rise, which will mean that working families will now pay an extra $50 in monthly repayments on a $300,000 mortgage and an extra $433 a month in repayments since interest rates started going up in 2002? Can the minister explain to working families why he thinks nine interest rate rises in a row is an example of a tremendous record of economic management?