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

First, I stand by my comments to CNBC. It is the same explanation that, I think, I gave in this place and which is in the budget papers and which we have made clear. In terms of the issue that the senator raises, he would be aware that the borrowing limit—and I think he is aware of this because of the way he phrased the question—applies to the face value of bonds on issue. Obviously accounting standards require that the government reflect the current market value. The borrowing limit applies to the face value of bonds on issue.