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

This government is very serious about fiscal policy. And we have proved that, every year that we have been in government. We have put in place a fiscal policy which has had the big tick from the OECD, from the World Bank, from the IMF and, most particularly, from the rating agencies. We have a AAA, gold-plated rating from the three major rating agencies, for the first time in our history—something not achieved by those on the other side of the House. That is the first time in our history we have had that from the three major rating agencies globally. And why do we have that? Because, firstly, we took the responsible steps during the global financial crisis to stimulate our economy and to support jobs and families—understanding, based on Labor values, that we would protect people from the ravages of a global recession, because we understand what unemployment means to people. We understand what it means to dignity. We understand what it means to communities. We understand all of these things because they are based on our values and our sound policies. And when we did that we were opposed by everyone opposite; the Leader of the Opposition slept through the critical debate that saved Australia from the global recession. At the same time that we did that, we put in place the fiscal policy to bring our budget back to surplus over time and to put in place a set of fiscal rules—

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