David Bushby (Tasmania, Liberal Party) Share this | Link to this | Hansard source

My question is to the Minister representing the Treasurer, Senator Conroy. Is it still the government’s policy that Australians should spend, spend, spend?

Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Link to this | Hansard source

I thank Senator Bushby for his question. The government makes no apology whatsoever for pursuing policies to support Australian families and Australian jobs. We know the economy is slowing—

George Brandis (Queensland, Liberal Party, Shadow Attorney-General) Share this | Link to this | Hansard source

Then why is unemployment going up?

Chris Evans (WA, Australian Labor Party, Leader of the Government in the Senate) Share this | Link to this | Hansard source

Because there’s actually a global crisis.

Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Link to this | Hansard source

That might be why, George. We know the economy is slowing.

John Hogg (President) Share this | Link to this | Hansard source

Order! On both sides there should be order so that Senator Conroy can be heard.

Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Link to this | Hansard source

In the December quarter, consumption growth in Australia was positive and half a percentage point higher than for the average of G7 economies.

Helen Coonan (NSW, Liberal Party, Shadow Minister for Finance, Competition Policy and Deregulation) Share this | Link to this | Hansard source

Senator Coonan interjecting—

Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Link to this | Hansard source

You really just don’t get it. Money is fungible, Senator Coonan, so you are welcome to have a debate about whether money saved from one pool replaces another pool. It is fungible.

Mitch Fifield (Victoria, Liberal Party, Shadow Parliamentary Secretary for Disabilities, Carers and the Voluntary Sector) Share this | Link to this | Hansard source

Senator Fifield interjecting—

Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Link to this | Hansard source

No, Senator Fifield, you have got it completely backwards. This government will make no apology for supporting jobs—jobs, jobs, jobs. That is exactly what we will continue to do: put the policies in place—

Opposition Senators:

Opposition senators interjecting—

John Hogg (President) Share this | Link to this | Hansard source

Order!

Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Link to this | Hansard source

Without the payments that this government has supplied, we would not be doing all we could to support the economy, because at the moment we will never lay down our arms in this battle against the global recession. Let us be clear: we are going to continue to support Australian families and continue to support Australian jobs. We stand ready to do whatever it takes to protect families and jobs—just like the Leader of the Opposition, who also accepts that we need a deficit and who also accepts that we need to borrow money and go into debt. That is the hypocrisy from those opposite. They continue to pretend that their policies are not about deficits and not about debt, when the Leader of the Opposition has quite clearly said they are. (Time expired)

David Bushby (Tasmania, Liberal Party) Share this | Link to this | Hansard source

Mr President, I ask a supplementary question. Given that 80 per cent of the December cash splash was saved and given the fear, doom and gloom that the government has spread deliberately ever since, why should taxpayers be expected to spend rather than save the latest cash splash?

Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Link to this | Hansard source

Never let the facts get in the way of a good political line from Senator Bushby, because today’s consumer confidence figure shows that consumer confidence fell by 0.2 per cent in March and remains 4.4 per cent above its level in October last year. The Westpac chief economist, Bill Evans, said:

On the face of it, this is a surprisingly good result … Normally we would have expected a solid fall in the Index given the stream of negative news.

There is a strong improvement in the outlook for the economy over the next five years. Mr Evans noted:

This could only be interpreted as a strong vote of confidence that current policies are providing a strong foundation in the longer term.

So those opposite who want to try and cry wolf— (Time expired)