Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

This government is honouring its commitment to responsible economic management. It lies at the core of this budget. It lies at the core of our surplus; it lies at the core of our savings measures; it lies at the core of our funds to put in place investment for the infrastructure, the health and the education needs of the Australian people well into the future. That is why we have budgeted for a strong surplus of 1.8 per cent of GDP. We are banking all of the revenue windfalls. What the previous government did was to take this endless stream of money, it was raining gold bars, and then they went out and spent it. When they went out and spent it, they put upward pressure on inflation. And we now know, courtesy of the FOI from the Treasury, that the previous Treasurer, the member for Higgins, was advised by the Treasury not to go on a spending spree in the lead-up to the last election. But he did.

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