Glenn Sterle (WA, Australian Labor Party) Share this | Hansard source

My question is to the Minister representing the Treasurer, Senator Conroy. Given that we are in the midst of the most challenging global economic downturn for three-quarters of a century, virtually every advanced economy in the world is expected to be in deep recession this year. In Australia, government revenue has taken a massive hit with the write-down of around $210 billion across the forward estimates since the 2008-09 budget as a result of the worsening global condition. Our gross domestic product is expected to decline by half a per cent this financial year before recovering in 2010-11. Can the minister outline to the Senate what measures are contained in the budget to support nation building and economic recovery?