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

This is another swiftie from those opposite, because in the month of December retail sales rose. Why was that? Why would they have risen so sharply in December? Well, they rose because of the economic stimulus package. But the shadow Treasurer seeks to quote the quarterly figure from the national accounts so he can conveniently ignore the impact of the economic stimulus package. Of course, in the month of December we had a very substantial increase in retail sales, 3.8 per cent—now listen to this: the highest in eight years. Why would that have been the case? It was the case because of the economic stimulus package. Also, we had a further increase in retail sales of 0.2 per cent in January. Why was that? It was the economic stimulus package. That is why Gerry Harvey, Roger Corbett and all of the other major employers out there are saying the economic stimulus package has been a substantial boost to demand and a substantial support to employment.

What happened elsewhere in the world during this period? In the US, retail sales fell by around three per cent in the month of December. In Japan, sales fell by two per cent in December. And of course what happened in Australia? Sales were up 3.8 per cent. So the figures show unambiguously that the Economic Security Strategy supported employment and supported jobs in the month of December—and of course those opposite just simply want to sit and wait and see. We on this side of the House will do everything within our power to support employment, to support demand and to support the Australian economy, and it is a pity those opposite would not do the same.

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