Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

I am quoting directly from the Deloitte Access report, which says May's budget is 'the only road map to structural fiscal repair Australia has. The opposition and minor parties have washed their hands of setting­ out detailed alternatives, preferring populist posturing.' 'Populist posturing' is actually not in our national interest. What is in our national interest is to have a serious look at the structural challenges we are facing with the declining terms of trade, with the ageing of the population, with falling workforce participation rates and, of course, with all of the spending decisions locked in by the previous government for the period beyond the forward estimates, increasing way beyond what our nation can afford. The Labor Party can keep the pretence alive, but we cannot afford to stick to the spending growth trajectory that you locked Australia into. It was a reckless and irresponsible thing to do, and it is time that you started focussing on the national interest.