House debates Questions without Notice

Economy

Wednesday, 25 March 2015 House of Representatives
Chris Bowen

Chris Bowen McMahon, Australian Labor Party, Shadow Treasurer

3:02 pm

My question is to the Prime Minister. Earlier in question time, the Treasurer confirmed that a debt level of 50 to 60 per cent of GDP would see Australia lose its AAA credit ratings. Does the Prime Minister stand by his statement that such a level would be 'a pretty good result'?

Hansard source Link to this
Tony Abbott

Tony Abbott Warringah, Liberal Party, Prime Minister

Madam Speaker, I never said that. I never said that. Debt as a percentage of GDP, which would have been 120 per cent under the policies of the former government, is about 60 per cent under the policies of this government. Now, that is too high. We want to get it in a much, much better situation than that. That is what I said. That is what I said, and the shadow Treasurer should not set out to mislead.

Hansard source Link to this
Mrs Bronwyn Bishop

Mrs Bronwyn Bishop Speaker

The honourable Manager of Opposition Business on a point of order?

Hansard source Link to this
Mr Tony Burke

Mr Tony Burke Watson, Australian Labor Party, Shadow Minister for Finance

Thanks, Madam Speaker. I seek leave to table a transcript which includes the quote from the Prime Minister, a ratio of debt to—

Hansard source Link to this
Mrs Bronwyn Bishop

Mrs Bronwyn Bishop Speaker

This is not the correct time to deal with this. The member will resume his seat.

Mr Burke interjecting—

You are attempting to have argument in question time. That is what you are doing.

Hansard source Link to this