Kelly O'Dwyer (Higgins, Liberal Party, Minister for Revenue and Financial Services) Share this | Hansard source

They put money in the bank. They created the Future Fund, and more than $45 billion was put into that. It was not only that; they also had a Higher Education Endowment Fund, which, when those opposite came into government, they actually destroyed; they spent the money. So we have not been able to maintain the Higher Education Endowment Fund that was going to fund our universities well into the future.

So what did we inherit from those opposite when we came into government? We inherited cumulative deficits of around $123 billion from those opposite, when in fact they had money in the bank. We have inherited cumulative deficits from them and a debt trajectory heading upwards to 122 per cent of GDP, which is very significant. Since coming into government—

Honourable members interjecting—

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