House debates Questions without Notice

Prime Minister

Thursday, 15 October 2026 House of Representatives

Anthony Albanese

Anthony Albanese Grayndler, Australian Labor Party, Prime Minister

3:05 pm

When it comes to fiscal policy, something that's been the subject of some debate today, a $78 billion deficit was anticipated in their last year. We turned that into a $22 billion surplus thanks to the Treasurer. The next year, the $56 billion deficit was turned into a $15 billion surplus by this government. In 2024-25, a $47 billion deficit was reduced to $10 billion. And in the last year, 2025-26, a $42.9 billion deficit was reduced to $20.3 billion. I do welcome the question, because what we are building is a stronger economy, a stronger Medicare, a responsible budget, more jobs, lower income taxes, higher wages and Australia's skill base through free TAFE. All of these measures are making a major difference from what we inherited in spite of the opposition that comes from those opposite and, occasionally, the opposition that comes from the 'no-alition', such as it did with the Greens party decision to oppose— (Time expired.)

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