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

Or as my colleague the new member for Herbert, who is experienced in the private sector, in small business, would know; as my colleague at the table, the member for Cowper, would know—I am not sure whether the member for Adelaide would know. I don’t think the member for Dobell would know. Have you guys ever worked in business? No.

I would suggest that on this side of the House we know that you cannot keep spending more money than you have, that each year, if you spend more money than your revenue permits, you are going to be in a bit of trouble. This is something that Labor is not familiar with and the Treasurer himself is not familiar with. The Treasurer promised a surplus in 2008 and failed to deliver. When they were first asked about this, about when Labor will deliver their first surplus budget, they said, ‘Ah, we will be three years early.’ Three years earlier than what? ‘Well, three years earlier than we had to predict a surplus in six years time.’ You cannot deliver national savings if you do not have a surplus budget as part of the equation.

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