Senate debates

Tuesday, 1 November 2011

Questions without Notice

Interest Rates

2:40 pm

Photo of Penny WongPenny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

A sound fiscal strategy is important to managing the economy in the interests of working families, which is what this Labor government does. It works to manage the economy in the interests of working families. That is why we are engaging in the largest fiscal consolidation in the nation's history. We understand how important it is for government to create space as the economy grows without adding to price pressures. We understand the importance of investing in the capacity of the economy: the $3 billion investments in skills and training in the budget; the investment in infrastructure, including the NBN—all investments in the capacity of the economy. But the reality is that those opposite have no interest in fiscal discipline. They have a $70 billion black hole— (Time expired)

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