Senator SHERRY (Tasmania—Minister Assisting on Deregulation and Public Sector Superannuation, Minister for Small Business and Minister Assisting the Minister for Tourism) (14:42): Four days ago it was the third anniversary of the collapse of Lehman Brothers—that was the real death stare. Our decisive and strong actions to introduce stimulus measures protected the Australian economy— Opposition senators interjecting— The PRESIDENT: Senator Sherry, resume your seat. Order! When there is silence we will proceed. Senator Fifield interjecting— Senator Conroy interjecting— The PRESIDENT: Senators Fifield and Conroy, I am waiting to give the minister the call. The minister. Senator SHERRY: Our rapid and decisive stimulus measures protected the Australian economy from the worst effects of the global financial crisis, and we avoided recession. Senator Abetz interjecting— Senator SHERRY: I well remember—Senator Abetz is interjecting—the predictions of those on the other side, who opposed our stimulus measures. Mr Abbott, the opposition leader, predicted we could not protect the Australian economy from recession. Mr Hockey, the so-called shadow Treasurer—he would win an award for the worst shadow Treasurer in the world—predicted a million unemployed. That is what you predicted, and that is what we prevented. We prevented a million unemployed, and we kept this economy sheltered and protected by our effective stimulus measures. Unfortunately, the IMF has pointed out that the world economy is again on the brink and, obviously, we are not immune from those impacts. The IMF's forecasts confirm that despite the Australian economy being strong—we do have strong fundamentals—we will be impacted by events occurring in North America and Europe But we are better placed than any other advanced economy. We have an unemployment rate that is half that of the United States and Europe. Opposition senators interjecting— The PRESIDENT: Order! Senator Sherry, just resume your seat. I need silence so that I can hear the answer. Senator SHERRY: We have an unemployment rate that is half that of other advanced economies. We have a significant pipeline of mining investment—some $430 billion—with a mining tax that the opposition have pledged not only to oppose but to reverse. They will reverse $11 billion in tax that the mining industry wants to pay. (Time expired)