Kim Carr (Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research) Share this | Hansard source

The latest performance of service index suggests that activity in the service sector has contracted in August amid a softening of consumer confidence and business confidence, weaker economic conditions and higher petrol prices. This is, of course, expected as a result of the slowing of the economy. What we have here is an employment index that continues to decrease in the context of an international environment in which Australia by comparison is doing remarkably well. The real issue here is: what were the circumstances that led to those 12 interest rate rises, 10 of which occurred under your government? Why was it that you chose to ignore 20 warnings from the Reserve Bank about the consequences of your policies? This is the direct question that the opposition should be now answering, and that is what the Australian people will be seeking from you.