Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

I am pleased to see that the senator is able to read our budget papers where everything is laid out, openly and transparently, for everyone to see. What I can confirm is that net debt under this government will peak in 2016-17 at 18 per cent before coming down. Of course, over the medium term, it is going to come down to seven per cent as a share of the economy, or about $201 billion by 2025-26. The crocodile tears from this Labor Party over there are quite extraordinary, because we are the only ones who are actually trying to get the budget back under control. We are the only ones who are making an effort. You are the ones who are working to a huge expenditure growth. The Labor Party is not helping. If you are so concerned about bringing spending growth down, if you are so concerned about bringing debt down, come and join us in the national interest. Come and work with us in the national interest. Come and work with us in a bipartisan fashion to put Australia on a stronger foundation. (Time expired)