Treasurer Wayne Swan is still touting the effects of the stimulus, claiming it’s too soon to withdraw it.
Swan, who attended this weekend’s G20 Finance Ministers meeting in Scotland, told ABC TV that nobody at the gathering was doing “victory laps” and that Australia is not immune from what is going on in the global economy.
“The leaders are cautious. The communique says a key risk is that policy support is withdrawn before the recovery can become self-sustaining,” he said.
He reiterated the positive impact the stimulus has had on the Australian economy.
“One of the reasons we have done so well is that many employers out there know through our stimulus there is a pipeline of activity which they can use to keep workers on and also invest in capacity, and they are depending on that pipeline,” he said.