Wayne Swan Lilley, Australian Labor Party, Shadow Treasurer
2:35 pm
My question is to the Treasurer and acting leader of the Liberal Party. I refer the Treasurer to a report by Glenn Milne on Monday, 12 February, in the Australian where Mr Milne wrote:
No wonder Peter Costello is telling anyone who’ll listen, behind the back of his hand, that it might not be such a bad thing if the economy hits a few bumps to put voter apprehension back into the election mix ...
Given that the Treasurer’s parents taught him to always tell the truth, can he confirm there is any truth to Mr Milne’s report or any other reports about what he is up to at the moment?
Peter Costello Higgins, Liberal Party, Treasurer
Well, Mr Speaker, I suppose that is the best he can do!
Wayne Swan Lilley, Australian Labor Party, Shadow Treasurer
Mr Swan interjecting
Peter Costello Higgins, Liberal Party, Treasurer
Not bad, he says! Here we are, in the second week of this sitting, he bowls up, he hasn’t asked us a question about jobs or interest rates or infrastructure or tax—
Wayne Swan Lilley, Australian Labor Party, Shadow Treasurer
Mr Swan interjecting
Peter Costello Higgins, Liberal Party, Treasurer
and that’s the best he can bowl up. Well, of him, I can only think of one description: some mothers do have ’em! And we are very glad your mother did, if I may say so—
Wayne Swan Lilley, Australian Labor Party, Shadow Treasurer
Mr Swan interjecting
Peter Costello Higgins, Liberal Party, Treasurer
and we would like you to stay precisely where you are. In relation to the economy, this is not an economy which runs itself. This is a $1 trillion economy, and during the period in which I have been the Treasurer of this country—
Anthony Albanese Grayndler, Australian Labor Party, Manager of Opposition Business in the House
Mr Speaker, I raise a point of order under standing order 104.
David Hawker Speaker
The Treasurer is entirely in order. I say to the member that if he continues to take frivolous points of order I will take further action.
Peter Costello Higgins, Liberal Party, Treasurer
During the period I have been Treasurer there has been a great deal of risk in the Australian economy. We had to take the Australian economy through the Asian financial crisis, the US recession, September 11, war, SARS and the worst drought in 100 years. And all of the way as we took it through all of those risks—and one of those risks is very much on the board at the moment: the drought which Australia is suffering from—this government had to do the heavy lifting.
Kelvin Thomson Wills, Australian Labor Party, Deputy Manager of Opposition Business in the House
Mr Speaker, I raise a point of order. The Treasurer was asked whether the Milne report was right.
David Hawker Speaker
Order! The member for Wills will resume his seat. The member for Wills knows that if he is to take a point of order he should get straight to his point of order; he does not debate it. I have been listening closely to the Treasurer; he is entirely in order. I will take action if there continue to be frivolous points of order.
Peter Costello Higgins, Liberal Party, Treasurer
I am asked about risk in the Australian economy and the point I am making is that there is a lot of risk in the Australian economy. There is so much risk in the Australian economy—
Anthony Albanese Grayndler, Australian Labor Party, Manager of Opposition Business in the House
Mr Albanese interjecting
Peter Costello Higgins, Liberal Party, Treasurer
that the Australian economy has to be managed. Let me let the House into another secret: there is so much risk in the Australian economy that Australia cannot afford the member for Lilley as the Treasurer. There is so much risk in the Australian economy that we cannot have a nouveau for Prime Minister.
Lindsay Tanner Melbourne, Australian Labor Party, Shadow Minister for Finance
Mr Speaker, I raise a point of order. The Treasurer was asked—
David Hawker Speaker
The member for Melbourne will come to his point of order.
Lindsay Tanner Melbourne, Australian Labor Party, Shadow Minister for Finance
whether or not he made a particular statement; he has refused to answer the question.
David Hawker Speaker
Order! The member for Melbourne will resume his seat. The Treasurer is entirely in order. I warn the member for Melbourne! The member for Melbourne was asked to come to his point of order. He did not come to his point of order. He was trying to debate the Treasurer.
Lindsay Tanner Melbourne, Australian Labor Party, Shadow Minister for Finance
Mr Speaker, can you please explain on what basis you have given that warning. I raised a specific point of order.
Lindsay Tanner Melbourne, Australian Labor Party, Shadow Minister for Finance
Mr Tanner interjecting
David Hawker Speaker
Order! The member for Melbourne will remove himself from the House under standing order 94(a).
The member for Melbourne then left the chamber.
Peter Costello Higgins, Liberal Party, Treasurer
There is a lot of risk in the Australian economy. It is true that the Australian economy has weathered that risk a lot better under coalition management than it did 10 years ago. But if anybody in Australia thinks that you can walk people in to manage the Australian economy on the basis that they once ran a cabinet office in Queensland or on the basis that they were once an ALP state secretary in Queensland, they are wrong. Economic management is much too important to be left to the Labor Party.
Wayne Swan Lilley, Australian Labor Party, Shadow Treasurer
Mr Speaker, I raise a point of order.
Wayne Swan Lilley, Australian Labor Party, Shadow Treasurer
Can you get the Treasurer to answer the question?