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Tuesday, 17 February 1987
Page: 63


Senator MICHAEL BAUME —I give notice that, on the next day of sitting, I shall move:

That the Senate expresses its grave concern that the Federal Government has misled the Australian people about the economic crisis that is now seriously affecting all Australians, particularly the disastrous $1.3 billion current account deficit for January 1987 that gives the lie to Government claims that the balance of payments situation is `on track', and the record relative inflation rate of close to 10 per cent compared with 2 per cent or less for so many of our trading competitors, both of which ensure that Australia's excessively high interest rates, the huge rise in our overseas indebtedness, high unemployment and pathetically low level of economic growth will persist, resulting directly from the Government's gross economic mismanagement.