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Tuesday, 25 February 2014
Page: 777

Mr HOCKEY (North SydneyThe Treasurer) (15:09): Madam Speaker, I seek leave to make a personal explanation.

The SPEAKER: Does the member believe he has been misrepresented?

Mr HOCKEY: I have, grievously and predictably. Last night in the House the member for Lilley said the following:

In Sunday's newspapers, for example, he—

meaning me, the Treasurer—

claimed the IMF had recommended in its suite of structural reforms to reinvigorate growth that Australia should further deregulate the labour market. It must have been in the IMF report in invisible ink because it cannot be found. He is simply making it up as he goes along.

I table the IMF report page 9, which says:

Product and labor market reforms are also needed across the membership to lay the foundations—

Honourable members interjecting

The SPEAKER: We will have quiet on my right and my left.

Mr Shorten interjecting

Mr HOCKEY: Bill, come on. Then in the annex to the report on page 7, I put a little yellow tab that says:

Labor market reforms can also boost output substantially by increasing employment.

It goes on to refer to ageing population and the challenges associated with that and how you have got to undertake—

Mr Swan interjecting

Mr HOCKEY: Don't go, Swanny. We want you to stay in parliament, at least for the next three years.

Mr Burke: Madam Speaker—

The SPEAKER: The Treasurer will resume his seat. The Manager of Opposition Business will resume his seat. Despite addition of colourful language, shall we say, in that explanation, it was nonetheless correct. He showed where he had been misrepresented and tabled a document showing where it was wrong.