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

The IMF, global leaders, industry groups and economists the world over all recognise the need for strong and decisive action to support growth. On 6 March, the IMF stated:

… given the depth of the crisis, avoiding or postponing action is not a viable option …

On 3 March, the Federal Reserve chairman, Ben Bernanke, stated that ‘aggressive action’ was required to avoid a prolonged episode of stagnation. The government has acted decisively to support economic activity through the $10.4 billion Economic Security Strategy last October and the $42 billion Nation Building and Jobs Plan announced last month. Our action has been endorsed by the IMF, central banks, business groups and business economists. Most recently the US President, Barack Obama, has emphasised just how important it is. (Time expired)