Thursday, 17 September 2015
Questions without Notice
My question is to the current Treasurer. In the Treasurer's first budget, he slugged Australians with a GP tax. In his second budget, he locked in $80 billion of cuts to schools and hospitals. Treasurer, what do you have planned for your third budget?
I will answer broadly. I tell you what, whatever is planned for the third budget is a hell of a lot better than Labor's last budget. Labor's last budget cost Australians jobs. It cost Australians excessive taxes. Labor was a fiscal disaster and an economic disaster for Australia.
Mr Conroy interjecting—
Everything the Labor Party touched in government was disastrous—from the pink batts they put into people's homes to the $900 cheques that they sent out to dead people. Remember that, Swannie? How proud they must be of that—or the mining tax.
Opposition members interjecting—
I know, Mr Speaker, it is outrageous to call him by his name. Given that he has given me this opportunity and, as the Speaker said, it was a broad question, I can inform the House—I was going to do it in a statement after question time—that I have been informed by the Treasury of the final budget outcome for our first budget. That is that the budget bottom line is $3 billion better than we expected at budget time. The government is spending nearly $3 billion less than forecast, and net government debt is reduced by $11½ billion more than we expected.
I would say to you that, after Labor left a deficit of $49.5 billion, we are doing better. We are creating more jobs, we are opening up more opportunities and we are building greater prosperity.