House debates

Thursday, 14 November 2013

Bills

Commonwealth Inscribed Stock Amendment Bill 2013; Consideration of Senate Message

3:46 pm

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

I move:

That the amendment be disagreed to.

The opposition and the Greens have said there is no compelling evidence to have a debt limit of $500 billion and that, rather, there should be a debt limit of $400 billion. I table today the economic statement from the member for McMahon that says debt is going to peak at $370 billion. I table today the executive minute from the Australian Office of Financial Management that says that it would be 'prudent from an operational perspective to set it'—the debt cap—'at a level $40 billion to $60 billion higher—

Ms Owens interjecting

than the peak projected within year CGS'.

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