and the rules on gearing that have been announced in terms of multinational companies—do raise billions of dollars, that is true; but, in the context of the budgetary challenges we face, they are relatively modest compared to the challenges we face, which run into tens of billions of dollars. The black hole the honourable member left us was a massive deficit. He left us a $50 billion black hole, which we have been seeking to address—as the Treasurer just described.

Mr Brendan O'Connor interjecting—