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

In terms of pro-growth policies, I would remind the Senate that the Australian economy in the last national accounts grew 3.7 per cent for the year. I would remind the Senate that since this government came to power the Australian economy has grown close to 11 per cent. Compare it to some other advanced economies: for example, the UK has contracted in the same period and rates of growth even in countries like Germany—which is regarded as one of the strongest economies, certainly in Europe—are slightly less than three per cent—but I will check that figure. So I think to suggest this government is not pursuing pro-growth policies really flies in the face of the evidence. I would also remind the senator that S&P has recently reaffirmed the AAA credit rating of this nation and that is a testament to the strong public finances that the government has ensured.