Kevin Andrews (Menzies, Liberal Party, Minister for Social Services) Share this | Hansard source

When this government came to office, it was faced with a stark reality of the situation left by the previous Labor government. Let me put this in stark contrast. In 2007, when the Labor Party came to government, the nation had a net balance of $45 billion—in other words, the nation was in the black. But what happened over six years of Labor government? That $2,100 in the bank that every man, woman and child in Australia had in 2007, what had happened to that by 2013? The reality is, as the Treasurer pointed out earlier, we have something like $217 million of net debt. So instead of every man, woman and child in Australia having the equivalent of $2,100 in the bank, what were they left with after Labor in government? They were left with $12,900 in the red for every man, woman and child in Australia.

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