Senator CORMANN (Western Australia—Minister for Finance, Leader of the Government in Senate, Vice-President of the Executive Council and Leader of the Government in the Senate) (14:01): I thank the shadow minister for finance for her question on the economy. Today's national accounts confirm that the Australian economy continues to grow. It remains remarkably resilient in the face of significant global and domestic economic headwinds. Economic growth has increased to 1.7 per cent through the year, with the economy growing by 0.4 per cent in the September quarter, within the range of market expectations. While other major developed economies like Germany, the UK, Korea and Singapore experienced negative quarters of economic growth this year, Australia's economy continues to grow and has now entered its 29th consecutive year of economic growth, a record not matched by any other developed nation. I might also just say that household disposable income grew by 2.5 per cent in the quarter and is up 5.1 per cent over the year. This is the strongest quarterly rise in a decade, with the personal income tax cuts flowing through. The average compensation to employees rose 0.7 per cent in the quarter, to be 2.9 per cent higher over the year, and is now back above the decade average. Just imagine for one second, Mr President, what would have happened if the Australian people had chosen to vote for the alternative government, and $387 billion in higher taxes had hit our economy for six. Our economy today would be weaker— Senator Gallacher: Point of order, Mr President: you brought the Leader of the Opposition in the Senate to address comments through the chair earlier in debate today. I ask that you to be consistent and bring the Leader of the Government in the Senate to that standing order. The PRESIDENT: Quite right. All comments should be addressed through the chair. Senator CORMANN: The point I was making is that our economy continues to grow. Our economy is stronger than it would have been if the Australian people had chosen a different government at the last election. On the back of $387 billion in higher taxes, our economy would have been weaker, employment growth would have been weaker, unemployment would have been higher and wages would have been lower. Instead we have 1.7 per cent growth through the year, which is higher than what we had through the year to the end of the June quarter. Indeed, household disposable income grew by 2.5 per cent— (Time expired) The PRESIDENT: Senator Gallagher, a supplementary question?