Senate debates Questions without Notice

Economy


Katy Gallagher

Katy Gallagher ACT, Australian Labor Party, Minister for the Public Service

2:27 pm

I thank Senator Darmanin for the supplementary. While there are many things concerning Australians about the global economy that we can't control, there are things here at home that we can. That's why our responsible budget management and our focus on savings, on paying down debt and on making sure that upward revisions to revenue were returned to the budget have been key parts of our strategy since coming to government. Last month, Standard and Poor's reaffirmed Australia's AAA credit rating. We are one of only nine countries rated AAA by all three major rating agencies. S&P endorsed our tax and saving reforms and said we have modest debt by international standards. Fiscal discipline remains important at a time of heightened global uncertainty, and that's exactly what we're delivering through the budgets we've delivered, but also in the decisions that we'll take going forward.

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