My question is to the Treasurer. I refer the Treasurer to today’s Reserve Bank board minutes on the decision of 6 October to raise interest rates. The minutes state:

… the balance of risks was now such that the current very expansionary setting of policy was no longer necessary, and possibly imprudent.

Isn’t it the case, Treasurer, that the current very expansionary setting of fiscal policy is also no longer necessary, and possibly imprudent?