Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

Fiscal policy and having certainty around fiscal policy are important. That is why the government is delivering these reforms, consistent with a clearly articulated fiscal strategy. What we have seen from the opposition in recent days is really quite extraordinary. We have seen the shadow Treasurer make public—apparently because it was a smart tactic, according to a report in the Australianthat the coalition intends to find $70 billion worth of savings, just to get up to the starting line, to make up for their election black hole and all the promises Tony Abbott has made since then. Mr Hockey said that, and it was confirmed by Mr Robb. So we have the shadow Treasurer and the shadow finance minister saying, 'Yep, it is $70 billion.' Today we see Mr Abbott trying to wriggle out of the $70 billion. He has described it—a figure put out by his economic team—as a fanciful figure. This man is an absolute economic illiterate. (Time expired)