Nick Sherry (Tasmania, Australian Labor Party, Assistant Treasurer) Share this | Hansard source

And I should not forget the support of the Greens, Senator Fielding and Senator Xenophon—but the strong opposition of the Liberal and National parties to that stimulus package. The IMF also cautions in its report that ‘available data does not advocate a broad based withdrawal of stimulus’. It is warning against too rapid a withdrawal of stimulus. It also notes that the ‘recovery still appears sluggish’, Senator Joyce. It still appears sluggish ‘especially in advanced economies, and there is little evidence that private demand is self-sustaining’. Importantly, the IMF says:

Letting the fiscal stimulus expire should be straightforward from a technical standpoint because much of the stimulus has consisted of temporary measures.

That is true of Australia. Our stimulus peaked last year and has a phase-out within it. As the Rudd government has said from day one, stimulus measures have been timely, targeted— (Time expired)