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Thursday, 24 May 2012
Page: 5577

NOTICES

The following notice was given:

Dr Leigh to move:

That this House:

(1) notes that:

(a) by historical standards, unemployment, inflation and interest rates are at very low levels;

(b) for the first time in Australian history, Australia has a AAA rating from all three major credit rating agencies;

(c) Australia's debt levels, despite the hit to revenues from the global financial crisis, are around one tenth the level of major advanced economies;

(d) OECD Economic Outlook 91 confirms that the Australian economy will significantly outperform OECD economies as a whole over this year and next; and

(e) the IMF has said of Australia: 'we welcome the authorities' commitment to return to a budget surplus by 2012-13 to rebuild fiscal buffers, putting Commonwealth government finances in a stronger position'; and

(2) calls upon all Members to approach economic debates with facts rather than fear, and to put the national interest first when discussing the strong Australian economy.