Senate debates

Wednesday, 15 October 2008

Questions without Notice

Economy

2:23 pm

Photo of Stephen ConroyStephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Hansard source

The government is committed to delivering responsible economic management. To give you an indication of the support out there in the broader community, let me quote from Westpac chief economist, Bill Evans, when he noted on 14 October:

… we do not believe that this fiscal initiative will change the Reserve Bank’s policy approach.

               …            …            …

We are in extraordinary times and we struggle to expect that a one-off boost to consumer spending in the December quarter will divert the RBA from moving monetary policy out of the contractionary zone as soon as possible.

So let me be clear: we have the Reserve Bank and we have independent forecasters are all making it clear—(Time expired)

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