Malcolm Turnbull Wentworth, Liberal Party, Shadow Treasurer
2:41 pm
My question is addressed to the Prime Minister. Given the central importance of inflation and inflationary expectations in the management of our economy, will the Prime Minister—
Unidentified interjection - Hansard doesn't record who said this
Government Members:
Government members interjecting—
Harry Jenkins Speaker
Order! Those on my right are delaying proceedings. The member for Wentworth has the call.
Malcolm Turnbull Wentworth, Liberal Party, Shadow Treasurer
Will the Prime Minister confirm that the budget papers’ forecast for inflation in 2008-09 remains at 3¼ per cent, or has it been revised upwards to the level stated by him in parliament yesterday?
Kevin Rudd Griffith, Australian Labor Party, Prime Minister
Well, well, well! What have those focus groups been up to on inflation? We have a sudden change in position. Correct me if I have got it wrong. Not so long ago it was a charade. Then it was a fairytale. But did I just hear that inflation now is ‘of central importance’? What power does the Crosby Textor focus group machine have? I would suggest to those opposite that it is really important to have a consistent policy. We welcome the fact that they now recognise that 16-year record high inflation is important, and the honourable member should—
Brendan Nelson Bradfield, Liberal Party, Leader of the Opposition
On a point of order, Mr Speaker: the question is critical to the stability of this nation’s economic interests.
Harry Jenkins Speaker
The Leader of the Opposition will resume his seat.