Fed: Hockey defends coalition's economic credentials

AAP General News (Australia)
02-11-2008
Fed: Hockey defends coalition's economic credentials

The RUDD government's been accused of lifting Australia's inflation problem to the
pre-Nazi state of the German economy in the early 1930s.

Former industrial relations minister JOE HOCKEY has defended the HOWARD government's
economic credentials saying he's happy to take responsibility for delivering the most
prosperous economy in modern times.

But the Labor government in recent weeks has repeatedly blamed the former coalition
government for soaring inflation levels which have prompted the Reserve Bank to lift interest
rates.

Mr HOCKEY says Australia's inflation problem is not like the Weimar Republic level
that WAYNE SWAN and KEVIN RUDD want everyone to believe.

Labor has warned it's tightening spending to bring inflation into line by setting up
a razor gang to find 10 billion dollars in savings over four years.

But Mr HOCKEY says that's nothing to boast about in a one trillion dollar economy in
which governments spend 250 billion dollars each year.

AAP RTV kc/rl/crh/bart

KEYWORD: ECONOMY HOCKEY (CANBERRA)

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