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

I was just referring to car sales. Of course, car sales in most other advanced economies fell off a cliff, and that did not happen in Australia. As a comparison, Australia is one of three of 33 advanced economies to avoid recession during the global financial crisis—just one of three. The IMF estimated the Australian economy grew by just under one per cent in 2009. That compares to a contraction of 3.2 per cent for other advanced economies. Other advanced economies, on average, went backwards over the last calendar year. Australia’s economy grew, and all we have from those opposite is criticism of the measures the government took to cushion the Australian economy. Australia, with 5.3 per cent unemployment, has the second lowest jobless rate behind Japan in the advanced economic world. Since September 2008, of all the major economies in the world, Australia has managed— (Time expired)