Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I thank Senator Polley for that question, and it's an important one. This budget does put enormous emphasis on fiscal repair and strong, responsible economic management alongside the budget. This means that the budget is $44.9 billion stronger than MYEFO and more than a quarter of a trillion dollars better off than what we inherited. Deficits are lower in every year than forecast when we came to government in 2022. Debt in 2026-27 is $173 billion better than what we inherited, avoiding more than $70 billion in interest costs over the decade. There are $63.8 billion worth of savings and reprioritisations, which takes our total savings since coming to government to almost $180 billion. And, for the first time on record, consecutive updates have returned every dollar of revenue upgrades to repair the bottom line.