Economy
Background
The Treasurer had previously attributed economic pressure to retreating public demand, but recent national accounts showed public demand growing more than twice as fast as private demand in the December quarter.
Question
The member asked whether the minister would stand by the Treasurer's claim that public demand was retreating, given that official data contradicted this assertion. He questioned if the government would admit the error, noting that the claim had been used to justify interest rate rises that impacted mortgage holders.
Includes 2 supplementary questions.
Answer from Katy Gallagher
The minister stated that, over the year, private demand expanded more rapidly than public demand, citing contributions of 2.3 for private demand and 0.7 for public demand to annual growth. She affirmed the Treasurer's position was correct and contrasted the government's fiscal management with the opposition's election platform, which she claimed would have resulted in deeper deficits, higher debt, and higher taxes.
Summary in reported speech - not a transcript. AI-generated, so check the source.
Read on OpenAustralia · Official Hansard (APH) · 1 point of order raised