Government 'inept' economic managers: Turnbull
Bi-partisanship over the Rudd Government’s management of the economic crisis has quickly evaporated as at least three Australian investment companies suspended withdrawals from their mortgage and commercial property funds after the wealth management industry was left out of the government’s bank deposit guarantee scheme. Opposition leader Malcolm Turnbull moved to censure Prime Minister Kevin Rudd and Treasurer Wayne Swan for 'inept economic management,' saying the legislation introduced hurriedly by the government last week would also impose huge cost increases on Australian banks leading to increased interest rates and fees. The government retaliated by censuring Mr Turnbull for not apologising for attacks made by Liberal MPs on Treasury Secretary Ken Henry and Governor of the Reserve Bank Glenn Stevens.