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

What a silly interjection from Senator Macdonald. He claims it has been brought about by the Prime Minister, Mr Rudd. That is simply not true. As is well known—though perhaps not well known by some in the Liberal and National parties—the world has entered a significant financial and economic recession. We are seeing a significant decline in growth in every comparable economy around the world. In fact, I think Australia is one of two countries that is not in an official recession.