Malcolm Turnbull (Wentworth, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Prime Minister. I refer to his claim a moment ago that the Liberal Party had no interest in protecting jobs or never puts jobs first. Could the Prime Minister confirm that during the 11½ years of the coalition government 2.1 million jobs were created, that during the previous Labor government unemployment rose to over 11 per cent, that at the time of the election in 1996 when the Labor government left office unemployment was over eight per cent, and that at the time the Prime Minister’s party won office unemployment had dropped to a historic low of only a little over four per cent?

Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

I thank the Leader of the Opposition for his question because I think it is time that the parliament was presented with a few basic facts about what the opposition stand for. And it is about time that we had a little bit of intellectual honesty on the part of those opposite.

Opposition Members:

Opposition members interjecting—

Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

Those opposite laugh and jeer because they are led by Captain Smirk, the member for Higgins.

Joe Hockey (North Sydney, Liberal Party, Manager of Opposition Business in the House) Share this | Link to this | Hansard source

Mr Speaker, I rise on a point of order.

Malcolm Turnbull (Wentworth, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

Mr Speaker, I rise on a point of order.

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

Order! The Manager of Opposition Business and the Leader of the Opposition will resume their seats. The Prime Minister will refer to members solely by their—

Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

I withdraw.

Opposition Members:

Opposition members interjecting—

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

Order! The Prime Minister has withdrawn. The Prime Minister has the call. It will help us all if there is less audible interjecting and noise so that we can hear what is actually going on.

Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

As I was saying in my response before—and it was interesting to see the member for Wentworth jump so quickly to the defence of the member for Higgins. I have not seen that for some time, nor have I seen it in reverse.

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

Order! The Prime Minister will respond to the question.

Opposition Members:

Opposition members interjecting—

Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

Let us be frank about the division in the Liberal Party. They are out there; they are staring us in the face.

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

Order! The Prime Minister will respond to the question.

Joe Hockey (North Sydney, Liberal Party, Manager of Opposition Business in the House) Share this | Link to this | Hansard source

Mr Speaker, I rise on a point of order. We just asked the Prime Minister to answer a question about jobs, to put aside his nastiness and answer a question about jobs.

Honourable Members:

Honourable members interjecting—

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

Order! The Manager of Opposition Business will resume his seat. I repeat to the House that I am feeling very tranquil and have plenty of time on my hands, so I can wait. But I think it would be far better if the chamber became tranquil itself and under control. I have asked the Prime Minister to respond to the question; he may not have heard that through all the hubbub. The Prime Minister will respond to the question.

Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

In response to the honourable member’s question, the economic circumstances which prevailed from 2001 on, as the member for Higgins will well recall, were those of an unrestrained boom in global commodity prices. I said to those opposite that we should inject some intellectual honesty into the debate, but of course those opposite are not interested in intellectual honesty. They are not interested in the facts of this debate, because their single objective is to find an opportunity for political point-scoring. That is what their agenda is all about. On the one hand—

Peter Dutton (Dickson, Liberal Party, Shadow Minister for Health and Ageing) Share this | Link to this | Hansard source

You’re a fraud from way back, mate.

Sid Sidebottom (Braddon, Australian Labor Party) Share this | Link to this | Hansard source

Mr Sidebottom interjecting

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

Order! The member for Dickson will withdraw.

Peter Dutton (Dickson, Liberal Party, Shadow Minister for Health and Ageing) Share this | Link to this | Hansard source

Mr Speaker, I withdraw.

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

I thank the member for Dickson, and the member for Braddon is on very fragile ground.

Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

In the economic circumstances which have prevailed since 2001, as any objective economic—

Opposition Members:

Opposition members interjecting—

Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

Those opposite interject during my answer to a question concerning the economic record of the previous government. What I am seeking to do is refer those members opposite, if they are interested in facts rather than simple political point-scoring, to this: as a consequence of the global commodities boom—

Opposition Members:

Opposition members interjecting—

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

Order! The Prime Minister will resume his seat. That was not an instruction; it was just to try and get the House to come to order. I am not that brave. When the House has come to order, we will continue. I am quite comfortable here and happy to be here for the whole afternoon.

Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

In the context of that unprecedented boom in commodities prices, the estimates are that something in the order of $400 billion flowed into the Treasury coffers beyond normal budget parameters. The question which people have asked themselves in recent times is: what did the previous government use that money for? Did they invest it in infrastructure? No. As a consequence, the inflationary pressures which then emerged in the Australian economy were significant. As a consequence, the member for Higgins presided over 10 interest rate rises in a row. I did not hear anything about that in the question that was asked just before—10 interest rate rises in a row. Anyone sitting in the gallery or listening to the broadcast today who has a mortgage would know what suffering 10 interest rate rises in a row meant for the family back pocket. These were the circumstances which the government inherited.

Secondly, we now confront, as any honest analyst of current economic conditions would conclude, the worst financial crisis we have seen in three-quarters of a century. Those opposite find this an inconvenient truth. It is the truth and it is therefore becoming a crisis in the real economy. So I would say to those opposite: we can either have a real debate about real policy options to deal with the real economy challenges presented to Australia because of this crisis which originated in the United States or we can continue with this sort of bogus interjection on the part of those opposite, pretending that these underlying realities have somehow not changed. The member for Higgins in his most honest of moments knows all this to be true and factual. We are responding to the practical challenges with which we are confronted. I reiterate what I have said already: if the global financial crisis gets worse and puts the Australian economy more at risk then the government will take decisive action in the national interest, including temporarily going into deficit to stimulate the economy, build infrastructure and protect jobs.