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

I was actually asked about foreign debt. I would just like to go into what has been said by people over time about foreign debt. Who said, back in 1995: ‘Foreign debt is a terrible thing. It is now the equivalent of $10,000 per head for every Australian’? Who said that in 1995? Peter Costello. And what happened to foreign debt from the time that the former Treasurer made that statement? It went up by 200 per cent. There was a massive explosion in foreign debt under the Liberals, and if the proposition being put forward by the shadow Treasurer—

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