Chris Bowen (McMahon, Australian Labor Party, Shadow Treasurer) Share this | Link to this | Hansard source

My question is to the Treasurer. I refer the Treasurer to his recent statements that there are $123 billion in cumulative deficits over the forward estimates. Can the Treasurer confirm that more than half this figure—or $68 billion—has actually occurred due to spending decisions or changes in economic assumptions made on his watch?

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

Our budget, as released in the Mid-Year Economic and Fiscal Outlook, was right; the numbers were right. Every number Labor produced for six years was wrong. A little bit earlier, the member for McMahon—before I ran out of time—asked me about foreign aid. The Labor Party cut $5.7 billion out of foreign aid in the last 15 months in government—

Mr Bowen interjecting—

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

The member for McMahon will desist.

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

And the reason why the member for McMahon wants to look at whether he would be the beneficiary of foreign aid is that, under Labor, Australia became the third-biggest beneficiary of its own foreign aid program. Can you believe that? They were spending foreign aid in Australia. We became the third-biggest recipient of our own foreign aid program under Labor.

Ms Plibersek interjecting—

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

The member for Sydney will desist.

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

So please spare us and spare the Australian people the rank hypocrisy of the Labor Party. Australians have had enough. The Labor Party got every number wrong. They engaged in deceit and deception when it came to the budget. Our numbers are fair dinkum, and we are being fair dinkum with the Australian people.