Stimulus kept recession away: Swan

18 Aug 2009, 7:40 am   -   Source: AAP
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Prime Minister Kevin Rudd has rejected Opposition calls to wind back his government's economic stimulus program saying that to do so now would hurt thousands of small and medium businesses.

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Federal Treasurer Wayne Swan has taken a swipe at critics of the government's economic stimulus measures, saying they have learnt nothing from the events of the past five months.

"Stimulus has been absolutely imperative to sustaining growth in the March quarter," Mr Swan told ABC Radio on Tuesday, adding it would be a mistake to withdraw the stimulus prematurely.

Mr Swan echoed comments made on Monday night by Prime Minister Kevin Rudd who said that any winding back of the stimulus would hurt thousands of small businesses.

On the back of better-than-expected economic data, the opposition has been calling on the government to reconsider stimulus measures to avoid public spending crowding out private investment.

"They have learnt nothing," Mr Swan said, adding such calls were the "stalking horse" by those who opposed the stimulus in the first place.

"They would have pushed Australia into recession if they had their way." The stimulus would be kept in place for long as it was required, Mr Swan said.

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