Guy Barnett (Tasmania, Liberal Party) Share this | Hansard source

I move:

That the Senate take note of the report.

In so doing, I indicate the importance of this bill and the merit of a parliamentary budget office for the parliament and for the country of Australia. This is an interim report because the parliament was prorogued and we are now into the 43rd Parliament of Australia, but it relates to the review of the merit of independent analysis and scrutiny of major government budget statements, with the parliamentary budget office reporting to the parliament rather than to the executive. I note also that there is a trend for such offices around the world, including in the US, Canada and the UK.

I indicate that this was initially announced as coalition policy last year at the May budget by the then leader, Malcolm Turnbull, and I started work on this prior to that budget announcement and following that budget announcement in preparing this bill. It was for good reason, because Labor wasted so much money, managed the economy so poorly and spent Australian taxpayers’ money so recklessly. The coalition went to the last election with a policy to establish a parliamentary budget office. Of course, I am very pleased to advise that, since the election, the policy was included in the parliamentary reform agreement with the Independents. Initially, when I introduced this bill in this chamber on 24 June this year, Lindsay Tanner, on behalf of the Australian Labor Party and the Australian government at that time, castigated the coalition for introducing such a bill and for such a policy. He said it was not necessary and was simply a waste of money. Of course, since the election Labor has done a complete backflip. Labor has now signed up in support of a parliamentary budget office. I will not say it is a broken promise, but Labor has now obviously seen the light and the merit of a parliamentary budget office.