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

The Rudd Labor government saw the need to deliver a fiscal stimulus to cushion the Australian economy against the worst recession in 75 years. We acted quickly and decisively, but we did not just act with respect to the short term; we also acted with respect to the medium and longer term investment in the Australian economy. That will be very important—it will be critical—as the Australian economy recovers from the impact of this world financial and economic recession. Seven dollars out of $10 of the stimulus package is invested in infrastructure—in building long-term investment, productive investment—in the Australian economy in areas that were sorely neglected by the former, Liberal government: roads, railways, ports, broadband. So the medium to longer term fiscal stimulus will ensure a stronger Australian economy as the world— (Time expired)