Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I thank Senator Dowling for that question too. As he said, the Australian economy grew in that quarter—0.6 per cent in the June quarter—to be 1.8 per cent higher through the year. This is the fastest annual growth rate in almost two years and shows gathering momentum, which is positive news for all Australians. Last financial year, we achieved what no major advanced economy could: continuous economic growth, low unemployment and inflation below 2½ per cent. Australia is one of only six advanced economies that have grown every quarter for the last three years. Thirty-two out of 38 OECD nations have gone backwards for at least one quarter in the last three years, but Australia is not one of them. We have the fastest annual growth when compared to other major advanced economies. Our employment growth has been much stronger than other countries, and that means more Australians in jobs earning more and keeping more of what they earn.