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

Senator Abetz is of course interjecting, Mr President, as you know. He cannot find any reputable economic commentator to support the Liberal-National party’s opposition to the stimulus—he cannot find any. Today’s new vehicle sales figures released by the Bureau of Statistics are further proof of the success of the stimulus. Although the January 2010 seasonally adjusted estimate for sale of new vehicles decreased by 3.4 per cent compared to December 2009, this was expected because of the government’s small business and general business tax break, which concluded on 30 December—another part of the stimulus package. The impact of the stimulus tax break is shown in year-on-year figures. According to the ABS, the January 2010 seasonally adjusted estimate for motor vehicle sales increased by some 15.6 per cent. (Time expired)