It now means that we can compete on an even keel around the world with everyone else that was helping their exporters. One of the things you can say, Kerry, is that the exchange rate has actually worked in Australia's favour on the export front. One of the reasons why you have a floating exchange rate is so you have various arms of economic policy that can take the weight. This is an example where it actually worked in Australia's favour. The tax system is working now in its favour.
Exports are up.
I might say that the current account deficit, which I think is now as low as 3 per cent, is a very, very low current account deficit by Australia's standards. Peter Costello, we're out of time. Thanks for talking with us. Transcripts on this website are created by an independent transcription service. The ABC does not warrant the accuracy of the transcripts.