Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

The senator might like to acquaint himself with pages 38 and 39 of the MYEFO, where reference is made to the $16.4 billion in savings measures that the government took in the midyear review. A number of those are opposed by those opposite. Let us remember that they talk about budget discipline but, when it comes to actually supporting savings measures, we hear very intelligent criticisms like, 'This is analogous to the one child policy in China.' I return to pages 38 and 39 of the MYEFO. There you will see again, Senator, that, in total, real growth in payments is estimated to be negative 4.4 per cent in 2012-13 compared with negative 4.3 per cent in the 2012-13 budget. The government is delivering on its commitment to restrain real growth in spending to two per cent a year on average until surpluses are at least one per cent of GDP while the economy is growing at or above trend. I refer him to table 3.3 on page 39, which makes clear that the average growth in real payments is 1.1 per cent.