Anne Urquhart (Tasmania, Australian Labor Party) Share this | Hansard source

I rise to take note of the answer from Minister Wong on the Labor government's budget management record. Before Senator Williams leaves the chamber, I remind him that before he starts talking about the Tasmanian government being in debt, he should get his facts correct. In 1989-92 the Labor government was actually paying off the debt that was left by the Liberal government in Tasmania at that time.

Economic management has been one of the highlights of this Labor government. This Labor government is getting on with the job of managing the Australian economy. Everyone in this place knows the tremendous job we did throughout the global financial crisis where Labor's fast, targeted action to stimulate the economy has seen our economy now 10 per cent larger than before the GFC. While many advanced economies are still smaller than they were before global crisis, Australia has come out of the worst financial hit since the Great Depression with an economy that is growing at a good level. As Minister Wong said during question time today, Labor is committed to doing what is required to grow our economy and we have delivered a midyear budget update that brings the budget back to a surplus. Australia has an unemployment rate that is lower and an inflation rate that is low, and this responsible fiscal management gives the Reserve Bank room to lower interest rates, if it decides to.

And let us not forget that we have continued to move Australia forward while ridding our workplaces of that torrid industrial relations relic, Work Choices, that torrid system where more than four million workers lost basic protections. They were just gone.