Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

I would like to make it very clear that the objective of the Rudd government is to get unemployment as low as we possibly can. But there is one hurdle, and that is the level of elevated inflation. The highest level of inflation in 16 years was left to the incoming government. That elevated inflation, which has been on the march for the last couple of years, has produced seven interest rate rises in a row. That is the legacy of the Liberal Party of Australia. That is the parting gift of the Liberal Party of Australia to the incoming government. We have taken responsibility for that from day one. The Prime Minister has put out there his five-point plan. Very important to ensuring that we have sustainable growth in this economy is to put in place our five-point plan to tackle inflation, and we are doing just that.

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