Joe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Hansard source

My question is to the Treasurer. I refer the Treasurer to Budget Paper No. 1 at appendix A: ‘Sensitivity of budget estimates to economic developments’, and I quote: ‘The overall impact to the fall in the terms of trade is a decrease in the underlying cash balance of around $2.1 billion in 2010-11 and around $5.1 billion in 2011-12.’ Does the Treasurer agree with his own budget’s assessment that a fall in Australia’s terms of trade would completely wipe out the government’s proposed wafer-thin surpluses?

See this speech in context