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

Exactly. And it relates to the level of borrowings that this government has had to make responsibly to support our economy and to support employment in the middle of a global recession. Mr Oakes said:

So you’d be spending $210 billion less over that period?

Hockey said:

No, no, not at all.

So there would be no global recession, they would have less deficit and debt and they would be able to do that without spending a cent less. Talk about a magic pudding!

The truth is that we have had to borrow responsibly to cover the revenue collapse brought on in this country—imposed on this country—by a global recession and to support employment to give us the outcomes that we got in the national accounts the week before last and to give us the consumer confidence figures that the Prime Minister was talking about before.

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