Barnaby Joyce (Queensland, National Party) Share this | Hansard source

Just on that point, it seems surprising that we are getting this sermon that is standing in proxy for a debate, for the purpose of filibustering on a package that was supposed to be urgent. I am sure the people watching the broadcast can clearly define the tactics of the Labor Party. They are desperately trying to stitch up Senator Fielding and that is why we are going through this whole charade in here.

But just on the issue here, it now appears there is a little ‘rounding’ error. They have said there is $4.8 billion in receipts and $7.5 billion in payments, so that is about $2.7 billion. But that means that their little rounding error—and this is what a fiasco this package is—is $40 million. It is a little $40 million rounding error. For the Labor government, $40 million is a little bit of small change that you just drop on the floor—a lazy $40 million. People out there would like to know how many hospitals we could improve for $40 million, how much cancer treatment we could deliver for $40 million, how many things we could actually put on the table for the $40 million which is now, in Labor parlance, a rounding error.

Let us look at this $7.5 billion in interest. That is definitely locked in. They are going to pay $7.5 billion—and, I would suggest, a lot more in the very near future. That is $7.5 billion that we could have turned into so many other outcomes in this nation. There could have been the delivery of real infrastructure. There could have been a start on dealing with the water issues of the south. There could have been a start on dealing with such things as inland rail. And then the  government had the hide to link that into $4.8 billion worth of receipts. Minister Tanner talked the other night about where this $4.8 billion worth of receipts was going to come from—the HECS debt, amongst other things. So let us drill down into that. He has a belief in a reliable, continual income stream from such things as the HECS debt and the Future Fund, in the middle of a recession, and the building capital fund. Let me remind you that the interest from the Future Fund is supposed to become part of the corpus of that fund and continue to build it up.