Andrew Robb (Goldstein, Liberal Party, Chairman of the Coalition Policy Development Committee) Share this | Link to this | Hansard source

My question is to the Treasurer. I refer the Treasurer to the fact that Germany, Switzerland, Norway, Korea and Chile are all reporting budget surpluses. Why have they been able to achieve budget surpluses when they face the same international economic environment as Australia, while this government has failed, despite enjoying the highest terms of trade in 150 years and inheriting from the Howard government no debt, money in the bank and a budget surplus? (Time expired)

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

The member for Goldstein is at war with the facts yet again. I make this point: we have a triple-A credit rating, and that is not delivered to many countries in the global economy. We have received that rating from the three major global rating agencies, and we have a stable outlook. The claim from over there is that we have always had it, but we have not. This is a reflection of the underlying strength of our economy. But, sadly, they are so unqualified to run an economy that they come in here day in, day out and they go out into the community and talk down our economy—they talk down the resilience of the Australian economy, they distort the facts. It is sad that this is what has happened to the once great Liberal Party of Australia, populated now by the cranks and crazies of the Liberal Party who do not accept the basic facts of modern economic life.

I was asked before about the surplus. I said last year, straight out, that because of revenue write-downs it was unlikely we would come to surplus in 2012-13. I do want to make this point, and I want to make it clearly: when the facts change, so do responsible governments. The stakes are really high, because when conditions in the international economy change the livelihoods of millions of Australian workers are on the line. What they want is a government that has the competence to make the judgements for jobs and growth. This government has got the competence to make the judgements for jobs and growth and you have proven during the last five years that you do not have that competence. You do not have that understanding. You do not have the knowledge of our economy and you do not know what you are doing, because the figures you have put forward today about tax levels are just wrong.

Christopher Pyne (Sturt, Liberal Party, Shadow Minister for Education, Apprenticeships and Training) Share this | Link to this | Hansard source

Madam Speaker, I rise on a point of order. We all understand that the Treasurer is under pressure, but he should not be referring to us by our names, but through the names of our seats.

Ms Anna Burke (Speaker) Share this | Link to this | Hansard source

The Manager of Opposition Business is correct. The Treasurer has the call and will refer to individuals by their appropriate titles.

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

I think is very important that we have a debate about economic policy based on the facts, and the facts are these: expenditure as a percentage of GDP is the lowest it has been in almost 30 years. The fact is that tax to GDP is quite low at the moment, far lower than it was under them—the highest taxing government in Australian history. Now, Sloppy Joe over there has made up this new figure claiming that the—

Ms Anna Burke (Speaker) Share this | Link to this | Hansard source

The Treasurer will not use that term. He will refer to people appropriately.

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

Well, he cannot go round just joining figures together and amalgamating concepts.

Ms Anna Burke (Speaker) Share this | Link to this | Hansard source

Order! The Manager of Opposition Business has taken a point of order.

Christopher Pyne (Sturt, Liberal Party, Shadow Minister for Education, Apprenticeships and Training) Share this | Link to this | Hansard source

Madam Speaker, I raise a point of order on him using the correct titles rather than a point of order on relevance.

Ms Anna Burke (Speaker) Share this | Link to this | Hansard source

That is what I was getting to. The Manager of Opposition Business has the call.

Christopher Pyne (Sturt, Liberal Party, Shadow Minister for Education, Apprenticeships and Training) Share this | Link to this | Hansard source

Madam Speaker, the Treasurer is nearing hysteria, but he is also abusing the order you made before for him to use our correct titles. I would ask you to order him to desist or sit him down so he can take a rest.

Ms Anna Burke (Speaker) Share this | Link to this | Hansard source

The Manager of Opposition Business did not take the hint that I was saying he had already taken a point of order that was not on relevance and that the use of points of order is not to be abused. The Treasurer has the call.

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

The fact is that those opposite, because they have got a $70 billion crater, have in store for the Australian people huge cuts, a sledgehammer to the economy, a $70 billion crater, that is going to cost jobs, cost growth and push up debt.