Senator MOORE (2:39 PM) —My question is to Senator Conroy, the Minister representing the Treasurer. Can the minister outline to the Senate the importance of the $42 billion National Building and Jobs Plan announced yesterday to our ability to withstand the global recession?

Senator CONROY (Minister for Broadband, Communications and the Digital Economy) —I thank Senator Moore for that question. The Rudd government has taken decisive action with its $42 billion investment to support the economy and jobs. In the current economic climate there is an overwhelming case for the Nation Building and Jobs Plan. As I outlined yesterday, these are almost unprecedented economic times. There is a global recession and the outlook has deteriorated sharply in the last few months. We know that the IMF has cut its forecast for global growth three times in the last four months and is now forecasting a deep global recession. We know that, in all, six of Australia’s top 10 trading partners are now in recession. We know that the global recession has wiped $115 billion off government revenue and has imposed a deficit on the budget.

I am continually amazed that those opposite just do not quite yet understand how serious the economic emergency is, which must explain—it is the only rational and logical explanation—why they continue to play short-term political games rather than facing up to these challenges. Australia is better placed than most countries, but we cannot completely resist the pull of these international forces. That is why the Nation Building and Jobs Plan is so important. (Time expired)

Senator MOORE —Mr President, I ask a supplementary question. Can the minister outline the risk to the Australian economy if these measures are not passed or if they are delayed?

Senator CONROY (Minister for Broadband, Communications and the Digital Economy) —Given the conditions that we face, the government is taking the only responsible action to support growth and jobs in the face of the global recession. We had a choice of further spending from the temporary deficit or higher unemployment. We make no apologies for choosing to save Australian jobs and fight for Australian jobs. Those opposite will stand condemned. If only they had had the opportunity to wait another few hours before their shadow cabinet met, because one of their great criticisms is that it will not be spent. The retail figures for December that came out this morning blew a large hole in the argument of those opposite because what it showed was a major increase— (Time expired)

Senator MOORE —Mr President, I ask a further supplementary question. Can the minister outline to the Senate how the opposition’s decision to vote against this package contrasts with the approach being advocated in other parts of the world in the face of the global recession?

Senator CONROY (Minister for Broadband, Communications and the Digital Economy) —Every government, economic authority and expert around the world is urging decisive action to stimulate economic growth. The IMF supports payments to increase spending and stimulate the economy—no less than authority than the IMF. This demonstrates yet again how out of touch Mr Turnbull and those opposite are with the lives of Australian families, workers and the experts. Mr Turnbull should go to the schools around the country and explain to them why they do not need decent libraries, halls and refurbishments. Mr Turnbull should travel the country, because once again Mr Turnbull is putting his own self-interest ahead of the national interest. (Time expired)

Senator Abetz interjecting—

The PRESIDENT —Constant interjection is disorderly, Senator Abetz, and it is very hard when one of your own is seeking the call and you are interjecting.