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

The Rudd government’s priorities have not changed from day one of the global financial crisis, which commenced about a year ago. We acted quickly and decisively at the onset of the crisis. We have acted patiently and with purpose to see the job through to full recovery, unlike those opposite who have continued to oppose major parts of the stimulus package. The government’s stimulus package is a three-stage strategy. It has immediate, medium and long-term elements which are there to support and cushion our economy at this extremely difficult time in the world economy—the worst recession in 75 years. The MYEFO recognises this and makes the point that:

... fiscal stimulus is still needed to support domestic activity. It remains appropriate for stimulus to be withdrawn progressively as private demand recovers, as it is designed to do.

The government’s strategy is going to plan, including returning to surplus within the next five years. (Time expired)