Arthur Sinodinos (NSW, Liberal Party, Assistant Treasurer) Share this | Hansard source

The Commission of Audit is an important step in addressing Labor's budget legacy. The commission has examined spending line by line to ensure that taxpayers will see value for money and to identify overlaps and inefficiencies. By cutting waste to streamline public services and by providing strong and competent leadership, the government can then provide much-needed resources to areas of need. The coalition took $42 billion worth of savings to the election and we added a further $1.1 billion worth of savings in MYEFO. But the Labor Party, sadly, has declined to accept the mandate of the Australian people.

And this includes fixing the budget. Labor is opposing around $20 billion of savings, including $5 billion of the savings they proposed before the election, cancellation of the 2015-16 tax cuts linked to the carbon tax, higher education savings and savings from changes to the R&D tax credit. (Time expired)