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

It is becoming increasingly obvious that those opposite continue, day after day, to lack an understanding of the severity of the world global recession. All of the forecasts released recently, particularly those by the IMF, note specifically that, to borrow their parlance, the risks are on the down side. What that means is that no-one is yet trying to pretend that this is necessarily the bottom, and the economy could slide further.

So let us be clear, the Prime Minister has repeatedly stated that we will do whatever it takes to protect jobs and families in this country, unlike those opposite, who are completely confused about what is going on. Let us be clear; just this morning Mr Turnbull went on the radio to say:

I still believe we will not go into a recession but I’m taking a very positive, you know, some would say optimistic, view.

Well, it was optimistic compared to what the shadow minister for education said this morning:

Well, we’re definitely going to be in a recession this year. That seems to be everyone’s assessment economically, and the IMF’s assessment, so I think we can now assume that we’ll definitely be in recession.

Is it any wonder that Mr Pyne and Senator Minchin are demonstrating some degree of economic literacy in the party room, but are overwhelmed by those (Time expired)