Page 3765 - Week 12 - Wednesday, 22 November 2006
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MR STANHOPE: You cannot have it both ways. You cannot do a Gary Humphries and claim that the economic performance of the ACT is exclusively the domain of the commonwealth government, except when it comes to interest rates. What is the biggest inhibitor of the economic health of families in the ACT? The biggest impediment—the thing that is keeping them awake at night—is interest rates.
There have been four sets of interest rate rises since the last election campaign—an election conducted on a promise not to allow interest rates to increase—four in a row in two years; $100 a pay; $2,000 a year; $74,000 over the life of an average mortgage. This is the bequest of the Liberal Party to the people of the ACT—the implications of four successive interest rate rises in two years, adding $100 a pay to the mortgages of most Canberrans; $2,000-plus a year; $74,000 over the life of a mortgage.
This is your bequest; this is your achievement. Or is this particular result not the responsibility of the commonwealth? The fantastic economic performance of the territory in every other respect is, of course, according to the Liberal Party, directly attributable to the Liberal Party; nothing to do with the government of the ACT. But then of course we come—do we not—to the disturbing question of interest rate rises and the impact of interest rate rises on Canberra families. All of a sudden, we are greeted with silence. We are not greeted with any acceptance.
Opposition members interjecting—
MR STANHOPE: There are all these other achievements. Unemployment, of course, is all the responsibility of the Liberal Party; profitability is, of course, all as a result of the Liberal Party—until we get to interest rates; and then silence. A pall of silence falls over the chamber because we do not, of course, want to be associated with the bad news.
Mr Stefaniak: What did you get up to? About 18 per cent?
MR SPEAKER: Order, Mr Stefaniak! Cease interjecting.
MR STANHOPE: A $74,000 Liberal Party bill was received in the mail by every Canberra family. A $74,000 bill with the names of Senator Humphries, John Howard and their acolytes in this place on the bottom was sent to every householder in the ACT. It was a $74,000 bill with your names on it. This is your contribution. Own that!
Opposition members interjecting—
MR STANHOPE: Okay; with great hilarity and bravado you have accepted full responsibility for the economic health and wealth of the ACT. Now accept the interest rate rises. Accept the $74,000 bill. Where is Senator Humphries on the $74,000 bill?
Opposition members interjecting—
MR STANHOPE: Did you read his crocodile-tear press releases before the last election? (Time expired.)
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