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

Senator Brandis asked me about the mid-year review, and he might recall, if he actually read it, that what that showed was $5 billion less in tax receipts than we anticipated because of what was occurring in the global economy. It also showed that we had to pay $2.3 billion more for natural disasters, and I would have thought that would not have been an expenditure that would be controversial in any debate in this parliament.

But, if those opposite want to talk about numbers, I suggest they have a look at the $70 billion that they have to find in the budget just to get to the starting line. Their backbench may not know this, but $70 billion is the equivalent of Medicare payments for four years. They are the sorts of cuts you have to find because of your lack of discipline. It is equivalent to two years of the age pension. That is the sort of cut you would have to find because of your lack of discipline. (Time expired)