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

I thank the honourable member for Bennelong for the question. Like a previous member for Bennelong, he is very concerned about the sustainability of the budget. It is hugely important that we make sure that we live within our means as a government so that the decisions that are made tomorrow are not punitive for those most vulnerable. Our latest legacy of $667 billion of debt and budgets where there are no surpluses means that Australians are currently spending $1 billion a month on interest, with 70 per cent of it going overseas—and it is going to $3 billion. Of course, you have to be straight with the Australian people in dealing with this. You have to be honest with the Australian people in dealing with this, and we are being honest with the Australian people.

See this speech in context