Ms Julie Bishop Curtin, Liberal Party, Deputy Leader of the Opposition
2:18 pm
My question is to the Prime Minister. Given that the Secretary of the Treasury told the National Press Club today that last week’s government projected growth of two per cent was based on a market anticipated cash rate of 4¼ per cent by June next year and that the markets are now pricing the cash rate at around 3¼ per cent for June next year, what is the government’s revised growth rate for the Australian economy?
Lindsay Tanner Melbourne, Australian Labor Party, Minister for Finance and Deregulation
You want to revise it up? What a brilliant question!
Joe Hockey North Sydney, Liberal Party, Manager of Opposition Business in the House
Kevin Rudd Griffith, Australian Labor Party, Prime Minister
That was well interjected by the Minister for Finance and Administration, who may have written that question. I say in response to the Deputy Leader of the Opposition’s question that there is a very simple alternative here: we stand by the Secretary of the Treasury and the Treasury and their independently determined forecast for the Australian economy and the opposition does not.