Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Hansard source

I thank the member for Sturt again for his intervention! Average growth in the OECD in the December quarter was minus two per cent. In Australia it was negative 0.5 per cent. As we saw yesterday, Australian retail trade has also performed better than most other economies. Australian retail trade figures are now running at 4.8 per cent above those levels from November last year. This contrasts with a 1.1 per cent fall in retail sales across the other major advanced economies. Again, that is a 4.8 per cent increase by us, a 1.1 per cent fall by other economies. That represents the difference in government policy.

Secondly, ABS building approvals data: in April, total building approvals rose by—wait for it, those opposite—5.1 per cent. Now, you would think those opposite would say, ‘That’s good news for the economy; that’s positive out there in terms of pumping the economy up,’ but no. Because it is good news, because it is positive news, they choose to remain silent. Again I would contrast what has happened in Australia relative to other economies. Building approvals are only—

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