Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

Given that we do not have the $70 billion black hole that those opposite have, our budgets will be in a much better position than theirs. But I would make this point, because I think it is an important one: those opposite seem to have forgotten something called the global financial crisis. It is extraordinary, isn't it? This economic event has caused major advanced economies to have levels of unemployment in excess of nine per cent, unlike Australia, where the unemployment figure has a five in front of it. It has occupied the policymakers and the leaders of the United States, Europe and all the major advanced economies and the developing economies. And yet they on that side seem to believe that it never happened. They never had a policy for it— (Time expired)