Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

I certainly thank the member for Page for her question. The central task of this budget is nation building for recovery—an unprecedented $22 billion of investment in infrastructure, an investment in infrastructure that those opposite could never commit to in their whole 12 long years in office. These investments will bring jobs and they will bring productivity for the long term. They are important investments for the long term, not just in hard infrastructure but also in the best human capital: investment in education. These represent the building blocks for the future.

The budget includes $8.5 billion of investment in economic infrastructure. This will mean that when the recovery takes hold our ports will not be straining and our rail networks and roads will not be clogged, and it means we will be much better positioned to take full advantage of the global recovery when it comes. Critically, these investments support jobs now and they will employ thousands of Australians. Nothing could be more important in the current environment than putting in place policies in the short term, the medium term and the long term to support jobs, because these unprecedented investments in nation-building infrastructure are the third phase of our economic stimulus package. The first phase was payments to support jobs; the second phase was the shovel-ready projects that are now taking off right around the country. Thirty five thousand projects have been launched right around the country and including in Page. This is important investment in schools and social housing that those opposite seem to think does not matter—does not count as infrastructure—but it is a lasting legacy for our communities and it is for support of jobs that those projects are taking place right around the country.

Now, of course, we have the commitment to big infrastructure. We have a commitment to a fair go for pensioners. We have the investments in our health and hospital system. We have a historic paid parental leave scheme, something that those opposite could not bring themselves to come to in 12 years of office. And, of course, we have a 50 per cent small business tax break for eligible investments.

This is a budget that charts the way back to surplus. It puts in place the necessary savings that are required. Those opposite are talking about deficit all the time, but they cannot nominate one saving they will make. The weight is on them now. There has been a record $210 billion write-down of the revenue over the forward estimates. They say they support pensions. If they support the pensions and the good things that come with the budget, they will have to support the savings that come with it. The weight is on the opposition to nominate where they would make savings—the weight is on them. But, for our part, we will chart a course back to surplus. We will make the long-term savings that they could not make in all their long term in government.

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