Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

Senator Conroy obviously does not realise that the Australian economy continues to grow. Where other commodity based economies around the world are indeed in recession, the Australian economy continues to grow. The Australian economy is in a stronger position than it would have been as a result of the economic and fiscal reforms that this government has been pursuing and will be pursuing moving forward. Why is that important? We are a trading nation. We have lots of opportunity in this part of the world moving forward, but we have to ensure we are as competitive as possible, as productive as possible, as innovative as possible and as agile as possible so that we can take advantage of these opportunities. We have to be as resilient as possible in the face of inevitable future economic shocks.

Of course, stronger growth means an opportunity for more jobs to be created, and for better pay and conditions for people across Australia—surely something that Labor would support. (Time expired)