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Wednesday, 15 October 2008
Page: 9185

Mr TURNBULL (Leader of the Opposition) (2:00 PM) —My question is addressed to the Prime Minister. When was the government first advised by officials that the economy needed a major fiscal stimulus package?

Mr RUDD (Prime Minister) —The government and its advisers have been examining the impact of the global financial crisis on the Australian economy throughout the course of this year. Specifically, as you would expect, in terms of the impact on growth, officials and ministers have been examining the detail of that over the last several weeks and we have been working our way through the detail of it. As the honourable member would be aware, meetings occurred over the course of the weekend on the finalisation of the government’s response to what I believe to be a significant change to this country’s medium-term growth prospects.