House debates

Thursday, 4 April 2019

Questions without Notice

Budget

2:27 pm

Photo of Josh FrydenbergJosh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Hansard source

It took John Howard and Peter Costello years to pay back Labor's debt. Now it has been left to the Morrison government to do it again. On budget night we put the first payment back on Labor's debt, with a surplus of $7.1 billion and $45 billion of surpluses over the forward estimates and a $55 billion turnaround on the fiscal mess that we inherited from the Labor Party. We have brought spending under control. Growth in government spending is now the lowest of any government in 50 years. The proportion of working-age Australians on welfare is the lowest of any government in 30 years. We have funded hospitals, schools and roads in record amounts. We have done all of that without increasing taxes. That is what we've done.

The Labor Party are going to take to the Australian people at the next election a plan for at least $200 billion of new taxes. There is a new booklet out about Labor's taxes.

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