Mr SWAN (Lilley—Deputy Prime Minister and Treasurer) (14:40): I thank the member for Banks for that question. Before I directly answer that question, I would like to report to the House that the Reserve Bank has now decided to keep the cash rate steady at three per cent. This means that a home owner, say, with an average mortgage of around $300,000, remains around $5,000 better off per year compared to when this government came to office. The RBA has cut rates repeatedly over the last 15 months partly in response to global volatility but also because the government has been running a very strong fiscal policy that has kept inflation contained and given the Reserve Bank of Australia flexibility and room to cut rates. I was asked by the member for Banks about why we must put in place reforms to strengthen our economy—to strengthen our economy for our children and our grandchildren, because reform can be pretty tough; it can be hard yards. Mr Katter: Madam Speaker, I rise on a point of order. Could the Reserve Bank be told that their interest rates are 1,000 per cent higher than the rest of the world? The SPEAKER: The member for Kennedy will resume his seat. It is not a point of order. It is an abuse of the standing orders, and I will warn the member for Kennedy if he interjects again. The Treasurer has the call. Mr SWAN: This government is very clearly focused on reforms which will strengthen our economy and our country for the future. We are proud of the fact that we have faced up to the big reforms over the past five years—big reforms like the NBN to lift productivity and to support business; big reforms like carbon pricing to make sure that a First World economy is driven by clean energy. It is this same determination to look to the future that this government is putting in place in 2013 for the next five years, in particular our determination to support jobs and growth. It is the top priority of this government, and it has been since day 1. It is why we moved to support our economy during the global financial crisis. It is one of the reasons that our economy is now 13 per cent bigger than it was back in 2007. Our priority has been jobs and growth and the peace of mind of the Australian community. At the end of last year we took a very big whack to revenues—$4 billion, a revenue write-down over four months that we had previously written down for the whole year. That is why we said then that our first priority does remain with supporting jobs and growth, and that is what we will continue to do. When we support growth and when we have a strong economy, we have a strong budget and we have the capacity to put in place the very big reforms for the future which will lift productivity—particularly the school improvement program, the Gonski program and, of course, making a fairer Australia through the National Disability Insurance Scheme. There can be no doubt about our determination to strengthen our economy and our country for the future.