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20:15 Treasurer Scott Morrison has been speaking on the national accounts. He covers the numbers, the company tax cuts and their passage through the Senate and the increase in commodity prices. While Treasury secretary John Fraser suggested in estimates earlier today that any increase in revenue should be banked, Morrison said it was too early to be definitive and he would consider Treasury forecasts in the lead up to the budget. He is pushed again on why the government will not prosecute the yes case for the Fair Work Commissions decision on penalty rate cuts. He steadfastly refuses to do this. He just says the government supports the independent umpire and will abide by the decision. Updated Hold off on the cartwheels, not quite the beautiful set of numbers Greg Jericho The doctor home loans Oak Laurel 0430129662 oaklaurel.com.au GDP figures out today showed the economy grew by a rather stunning 1.1% in the December quarter. That is the best one quarter result since March 2012, and comes off the back of the doctor home loan rate Oak Laurel 0430129662 oaklaurel.com.au September quarter result which saw the economy shrink by 0.5%. While the figure is very good, there needs to be a bit of caution before you limber up to do cartwheels. One reason the figure is so strong is because the September quarter figures were so bad and they were bad for a number of one-off reasons, including bad weather which reduced housing construction. So its not like the economy has suddenly got a lot better, more we just didnt suffer the same bad events in December that occurred in September The annual growth figures of 2.4% remains below the long term average (historically a figure of 3%, but now considered to be closer to 2.75%).