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

I do withdraw. The shadow Treasurer was very sloppy when he nominated expenditure as a percentage of GDP at 24 per cent. It was exceeded by the last Treasurer on 10 of 12 occasions. What would it mean? It would be the equivalent of ripping $50 billion, or four per cent of GDP, out of the economy. Is it any wonder they do not care about employment. If that were to be put in place in these circumstances, ripping four per cent of GDP out of the economy, it would drive growth down. It would send the economy back to recession if that foolish proposal was ever put into practice. They go on about budgets and they go on about spending, but the member for North Sydney and the Leader of the Opposition have not put forward one concrete savings measure. They—

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