Mr ALBANESE (Grayndler—Prime Minister) (14:00): Last Friday I was listened to RN, and the New South Wales Treasurer said: 'Inflation has peaked this year. There are significant headwinds being caused by the war in Ukraine which are driving up the price of coal and gas, and that is feeding through to electricity prices. This is a global issue, and all reserve banks are fighting inflation.' Indeed, the Reserve Bank is fighting inflation, and it says that our action is actually assisting it in doing this. That's why 99 per cent of the revenue gains were returned to the bottom line, making a positive difference. Mr Taylor interjecting— Dr Chalmers interjecting— The SPEAKER: Order! The member Hume and the Treasurer will cease interjecting. Mr ALBANESE: Those opposite seem to be shocked by the fact that, during a recession that occurred under their watch, what central banks did, not just in Australia but around the world, was lower interest rates in order to stimulate demand in the economy. That's what occurred under their watch. But they seem oblivious to any of that. They seem oblivious to the fact the interest rates were higher when John Howard was in government and when the person who asked the question actually occupied a position as Assistant Treasurer. I don't blame him personally for the fact that interest rates were higher when he was Assistant Treasurer than what they are now, but that is an actual fact and should be cause for some reflection from the Leader of the Opposition.