Chris Evans (WA, Australian Labor Party, Leader of the Government in the Senate) Share this | Hansard source

by leave—at the request of Senator Ludwig, I move:

That, on Thursday, 5 February 2009:

(a)

the hours of meeting shall be 9.30 am to 6.30 pm and 7 pm to adjournment;

(b)

consideration of general business and consideration of committee reports, government responses and Auditor-General’s reports under standing order 62(1) and (2) shall not be proceeded with;

(c)

the routine of business from 12.45 pm till not later than 2 pm, and from not later than 4.30 pm shall be government business only;

(d)

divisions may take place after 4.30 pm;

(e)

the question for the adjournment of the Senate shall be proposed after the Senate has finally considered the bills listed below, including any messages from the House of Representatives:

Tax Bonus for Working Australians Bill 2009

Tax Bonus for Working Australians (Consequential Amendments) Bill 2009

Household Stimulus Package Bill 2009

Commonwealth Inscribed Stock Amendment Bill 2009; and

(f)

if the Senate is sitting at midnight, the sitting of the Senate be suspended till 9 am on Friday, 6 February 2009.

I thank the Senate for its cooperation in bringing this debate on and not unduly delaying the Senate on procedural matters. In the government’s view there is an urgent need for action to stimulate the Australian economy. We have seen three times in recent months the International Monetary Fund revise down their projections for world growth and economic activity. Around the world, world leaders have agreed that governments need to take strong and decisive action to stimulate their economies and prevent the world falling into a deep recession. Projections are that this might be the most serious financial crisis confronting the world since the recession of the 1930s.

This is a very serious problem. I think some in Australia do not understand that because, quite frankly, the worst aspects of this have not yet hit us. They are only just starting to bite. Up until a few weeks ago I was much more optimistic, but then I saw redundancies starting to occur and the impact already being felt by Australian families. In my own state of Western Australia BHP closed the Ravensthorpe development, which threw hundreds of people out of work and basically destroyed the town, as they decided they could not continue with that mining activity.

These are serious issues for Australians but they are immediate issues. This is not some sort of academic debate about debt and macrofinancial issues, although those issues are also part of the debate. This is a debate about how many Australians will lose their jobs. That is what we are debating today. The revised economic forecast provided through Treasury indicates that unemployment will rise to seven per cent. I am sure that is of deep concern to all Australians and all members of the Senate. Based on Treasury advice, the government is saying that unless we act now those projections may be considered modest and we may actually see an even greater impact on the Australian economy.

It is clear that we need strong and decisive action now. The government would be remiss and failing in our duties if we did not act. So we have sought to act. We tried to get ahead of the curve with the economic package we brought in last December. Despite the commentary from those opposite, it did work. It had an affect that stimulated the economy, encouraged people to spend and encouraged people to support economic activity. That saw jobs saved and businesses maintained.