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

We are one of only eight countries across the world holding a AAA rating with a stable outlook—something no Liberal government has ever achieved. In fact, the International Monetary Fund has confirmed that the Howard government presided over a period of wasteful fiscal profligacy. I would invite those opposite to consider the report of the International Monetary Fund. We on this side do understand, notwithstanding our strong fundamentals, that not everyone is doing it easy. We understand that. That is why we have been focused on ensuring the economy is continuing to grow. We are focused on ensuring that we continue to grow jobs and maintain economic strength at a time of global volatility. Our responsible budget decisions have given the Reserve Bank room to move—and lower rates, of course, mean that modern families with a $300,000 mortgage are paying around $5,000 a year less in repayments than they were when the Liberals left office. This shows the government's continued sound economic management. (Time expired)