Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Hansard source

Perhaps I could just repeat something I said in my earlier answer, because Senator Abetz appeared not to hear. In the current circumstances our current forecasts are for modest growth and modest surpluses. That is our forecast. Those opposite apparently want to put themselves against every credible economist in the country on the issue of budget policy. Let me read what just a few experts have said on this issue. The Reserve Bank Governor, Glenn Stevens, said:

If we see governments at state level or federal level pull back from worthwhile things because of the budget balance deteriorating, which it is going to do in this environment, that is not stabilising. That is potentially destabilising.

Westpac chief economist Bill Evans said:

We have already seen a very laudable $10 billion—

(Time expired)