Tuesday, 1 December 2015
Questions without Notice
I know why the member opposite asked this question: because he seems to be in denial that Australia is actually moving past the investment phase of the mining boom. The rest of the country and the rest of this side of the House understand that the Australian economy is going through a transition. They will know that resources investment in this country has gone from about eight per cent of GDP down to about three per cent of GDP. That is what happens when you move out of the investment phase of a mining boom. That might become news, because those opposite seemed to think that resources and mining were going to fuel their spending forever and ever, and that is why they never did anything to curb spending.