David Van (Victoria, Liberal Party) Share this | Hansard source

Senator Chisholm may be a little bit Queensland myopic, but I remind him that in Victoria we did manufacture two million AstraZeneca vaccines at CSL. He said that we didn't manufacture vaccines, but I point out to him that we actually did. I also point out that we secured an mRNA manufacturing facility in Victoria to manufacture mRNA vaccines and other therapeutics. But he just ignored all those things that we did.

Let us be clear—and there are no two ways to spin this—the economy is struggling under the Albanese government. Bills are up, mortgages are up, taxes are up and inflation is increasing. No amount of political spin will enable the government to talk their way out of the fact that life is harder under Labor. Right now we need sensible policy. The best way to implement sensible policy is to listen to the experts. When times are tough, like under COVID-19, you must listen to the experts. That's what got us through the pandemic better than almost any other country in the world.

What have the economic experts said about the National Reconstruction Fund that the National Reconstruction Fund Corporation Bill 2023 enables? In the IMF's report they state that implementation of below-the-line activity through newly created investment vehicles—and the National Reconstruction Fund accounts for $15 billion, Rewiring the Nation accounts for another $20 billion and the Housing Australia Future Fund costs another $10 billion—should be avoided. I'll say that again for those in the chamber who do not hear: newly created investment vehicles, like the National Reconstruction Fund, should be avoided.