Peter Costello

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Mark Latham's Question Time Blunder

NO.100

MARK LATHAM'S QUESTION TIME BLUNDER

In Question Time yesterday, Mark Latham asked this question:-

    "My question is to the Treasurer. Given the Treasurer's endorsement of the OECD growth forecasts, does he also endorse its prediction of interest rate rises in 2004, with the Reserve Bank lifting rates by up to one per cent?

This is the OECD's table of interest rate assumptions:-

Short-term interest rates

 

2002

2003

2004

2005

2003

Q4

2004

Q1

Q2

Q3

Q4

2005

Q1

Q2

Q3

Q4

Australia

4.7

4.8

5.0

5.4

4.9

5.0

5.0

5.0

5.0

5.3

5.5

5.5

5.5

Austria

                         

Belgium

                         

Canada

2.6

2.9

3.1

4.1

2.7

2.8

2.9

3.3

3.5

3.7

4.0

4.2

4.4

Czech Republic

3.5

2.3

2.1

2.2

2.1

2.1

2.1

2.1

2.1

2.1

2.1

2.3

2.6

Denmark

3.5

2.4

2.2

2.3

2.2

2.2

2.2

2.2

2.2

2.2

2.2

2.4

2.7

The underlying assumption for the OECD Report is no interest rate change in 2004.

Mr Latham had all day to prepare his question. He couldn't read a basic economic table.

No amount of obfuscation will cover that fact.

MELBOURNE
28 November 2003


28 Nov 2003

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