Mary Fisher (SA, Liberal Party) Share this | Hansard source

Mr Rudd’s package is poorly targeted, ill thought out and irresponsible. It will not bring about the necessary fiscal stimulus. In question time, Senator Conroy accused the opposition of playing short-term politics, yet this is a stimulus package designed to stimulate politics in the government’s favour. For the short term, it may well do that. We are ready for that, because it is the right thing for us to do.

On jobs and the economy, this package will fail the bang-for-the-buck test. The only bang that we will hear will be the plans backfiring and landing in the wrong place. As the Leader of the Opposition, Malcolm Turnbull, has said, we need to keep a few shots in the locker. There will be none left if the package proceeds; this will be it. It is supposed to be about stimulating spending and encouraging Australians to shop for the benefit of the nation’s bottom line. Yes, that is what we need. So will it be free money? Will it be guilt-free spending? The Prime Minister tells us to go shopping—shop, shop, shop as if the money is free. No cost, no guilt. Think of the country and help us to spend to avoid recession!

Some well-intended shoppers have taken the Prime Minister at his word. They think they will be able to shop, shop, shop as if the money is free—no cost, no guilt—and they will like it because they think they will be able to feel good whilst they are doing it because they are doing it for country at the Prime Minister’s request: ‘Think of the country and help us to avoid recession.’ But over time they will realise they have been misled, and badly so. They will remember the lessons of past Labor governments: debt, debt, debt. Like an offer of an increased credit balance on an already maxed out card, they know that this package is all about spending money we do not have.

But it gets worse, because the Prime Minister is attempting to sell a defective product. If an Australian shopper were to buy a defective product, if it were not fit for purpose, they would be entitled to one of two things: either their money back or a replacement product that is fit for purpose. But what will happen when Australians discover that this so-called fiscal rescue package is not fit for purpose? They will not be able to get their money back, because it will be gone, gone, gone, and they will not be able to get a replacement that does the job because the bank will not have the money to pay for it. There is no fallback. There is no return clause. There is no replacement guarantee. It will be the game threatening to be over.

The Prime Minister’s so-called stimulus package fails at the very first test. It is not an economic stimulus. It will not stimulate jobs; it will stimulate debt and it will stimulate the Prime Minister’s politics. It is too much money, it will not work and it will burden tomorrow’s children with the debts of today. It must be opposed in its current terms.