Kim Carr (Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research) Share this | Hansard source

I have indicated to the Senate that there are global factors at work in terms of the structural adjustment that the Australian economy is going through. We are seeing the largest single structural adjustment in 50 years and we are working with companies to ensure that the economic transformation in this country is able to ensure prosperity for all Australians.

If we had taken your approach during the economic crisis, you would have seen some 200,000 fewer people employed. You opposed even the most rudimentary stimulus measures. You opposed any support for Australian industry and you still have a policy of cutting industry programs by $2 billion. Yet the Leader of the Opposition masquerades around this country as a friend of manufacturing workers. At the same time he wishes to cut the programs by $2 billion. Presumably this is part of the $70 billion cut that Mr Hockey has been advocating. We have a hypocritical opposition. A fair-weather friend— (Time expired)