House debates

Wednesday, 13 November 2013


Commonwealth Inscribed Stock Amendment Bill 2013; Consideration in Detail

7:35 pm

Photo of Alex HawkeAlex Hawke (Mitchell, Liberal Party) Share this | Hansard source

We do not know when, but it is forecast to be quite soon. We will go past 400 billion dollars. The principal argument that we are having here is about a buffer. The Labor Party is pretending that there is no need for a buffer—fully in defiance of the advice from Treasury and the advice that the government has received. A buffer is essential. A buffer must be given to a government, because we don't know the state of the world economy and we don't know how the situation will change—a buffer is necessary. We already know it is going to be $430 billion. The advice is, a buffer must be there for the government to do—


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