Malcolm Turnbull (Wentworth, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

My question is addressed to the Prime Minister. I refer the Prime Minister to the finance minister’s recent statement on Lateline in which he said:

… there is a limit to any organisation, even the Federal Government with a very strong balance sheet, as to how far it can go into debt.

The Prime Minister has committed to $315 billion in debt. Will he guarantee that that is the absolute upper limit of debt? If it is not, what is the limit on the Ruddcard?

Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

I find it an unusual question from a Leader of the Opposition who, when asked about debt, recently said, ‘The number doesn’t matter.’ I find it remarkable that the Leader of the Opposition can stand in the parliament and ask a question about numbers on debt when, in answer to a direct question on the same topic, he said, ‘It isn’t a question of number.’ Furthermore, I would draw the Leader of the Opposition’s attention to the fact that the member for North Sydney, in answer to a question about what the Liberals’ debt strategy would be, said that it would be $25 billion less than the government’s. The government’s debt strategy is outlined clearly in the budget papers. We are responding to the worst global recession in 75 years. Our strategy will be implemented.