Tony Abbott (Warringah, Liberal Party, Prime Minister) Share this | Hansard source

I said it is a lot better than 120 per cent, which is where the former government was taking us. The former government was taking us to a debt to GDP ratio of 120 per cent; it was taking us to budget deficits of 12 per cent of GDP every year. That is Treasury analysis of the policies of the former government. Obviously, this government was elected to fix the budget. We were elected to bring the budget back under control.

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