Simon Birmingham (SA, Liberal Party, Minister for Finance) Share this | Hansard source

Indeed, the debt figures are published transparently in the budget papers. The debt figures are there for all to see. Importantly, under this budget net debt across each of the 10 years of the medium term comes in lower than had been forecast in last year's budget. What we're able to deliver across this budget is investment in essential services for Australians whilst ensuring that we keep debt at levels below what had been forecast in last year's budget. That's a dividend from sound economic management. That's a dividend from being able to create more jobs across the Australian economy. That is a dividend from having created the right environment—through tax incentives, through incentives for Australian business, through incentives for Australian households and through sound management—to be able to see recovery across our economy.

Senator Wong interjecting—

I hear Senator Wong talking about the iron ore price. Of course this budget, like all our preceding coalition budgets, takes a conservative approach in relation to things like assumptions around the iron ore price. Once again—if Senator Wong hadn't realised—in the budget we project iron ore prices declining to $55 per tonne. It's a conservative approach to give confidence to the budget papers.

Senator Wong interjecting—

Senator Wong wants to talk to me about debt now. I was here but I'm not sure where Senator Wong was last March when everybody over there was saying we should extend the JobKeeper program or the sky was going to fall in. This lot were calling for more spending just a few months ago. When we showed the judgement and the strength to phase out that program, we were proven right. (Time expired)

Honourable senators interjecting—