Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Hansard source

When the Liberals lost office in December 2007, foreign debt stood at $603 billion, or 55.5 per cent of GDP. Under the Liberal government’s economic management—and bearing in mind the promise they solemnly made to the Australian people—foreign debt exploded by more than 200 per cent. The Liberal Party’s hypocrisy on the question of debt is a matter of documentary record.

See this speech in context