Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

And the numbers of course—he knows the numbers. The ones in the party room, they are the ones he knows.

Spending in this budget as a share of GDP is the lowest for any budget since 1989-90—lower than any year of the Howard government. And so is the tax to GDP ratio. I do not expect those opposite to take my word for it but I tell you what I think they should take the word of. They should take the word of Goldman Sachs and their budget review today. This is what they had to say:

After 2 years of notable conflict, finally we have fiscal policy that is pushing in the same direction as monetary policy.

That is what Goldman Sachs had to say today in their economic monitor. This is what they also had to say:

A clear picture of the restrictive nature of the budget emerges from the expenditure estimates which suggests that the reduction in new policy decisions is equal to the coalition’s first and only attempt at fiscal restraint.

End of story.

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