Nick Sherry (Tasmania, Australian Labor Party, Assistant Treasurer) Share this | Hansard source

I am glad that the question has raised the important issue of the bank guarantee, because this is another example of the decisive action taken by the Rudd Labor government: in the face of collapsing world financial markets, to ensure a guarantee not only for the banks themselves but in respect of wholesale funding. We have had much criticism from Liberal-National Party members such as Mr Turnbull, Senator Coonan and Mr Hockey, but they have now been joined by a new economic critic. A new economic critic has come out and received extensive media coverage today: Senator McGauran. Senator McGauran has made an economic foray. I notice in today’s media Senator McGauran has been referred to as a ‘key member’ of the coalition economics committee. (Time expired)