Though agreeing with the requirement of a stimulus package, Senator Joyce was perplexed as to the nature of it as it now stands.

"I commend the Government in now finally dealing with, in some fashion, meeting the needs of pensioners but they certainly needed some prodding to get to this point."

"It is a shame that the Government did not identify in specifics, beyond yet another foreshadowed report, any major addition to the public infrastructure in the form of rail, ports, agricultural development of Northern Australia and industry incentive packages in such things as bio-renewable fuels."

"A one-off cash payment is a solution of sorts, but a very short term imprecise one. If lump sum payments are lump sum spent on consumer chattels imported from overseas, then the benefit to the economy is very short indeed. The residual benefit to Australia is quickly lost."

"The investment incentive to build houses has the potential of encouraging the further extension of debt to cover the balance of funds required for construction. Creating a bubble as a solution to a bubble is a peculiar approach to the current credit problem."

Senator Joyce said that with the current downturn in the value of such assets as the Future Fund, the accounting for this loss will have to be assessed. Also now that the Government has underwritten all bank deposits, where will this contingent liability be noted on the nation's books?

Ends