Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Hansard source

I appreciate the question from the member from McMahon. I refer him to the latest published Economic Statement, which was published by—Oh! 'Chris Bowen' is on the front. On page 46 it says that the end-of-year amount this year will be $290 billion; next year, $330 billion; the year after, $350 billion; and the year after that, $370 billion. But Labor wants us to stop at $400 billion. Let me understand this. The Labor Party wants to reduce the debt that they only ever increased when they were in government. The Labor Party now says: 'Look, 400 billion is enough; let's draw a line at 400. You should be under 400 and you need to explain'—'you' being us, the government—'to the Australian people why 400'—a number based on Labor's own economic figures—'is not enough.' Let me explain something.

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