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

I really do thank the member for that question. I think it was a flick pass from Joe, because he said in the question that it was unstated in the budget papers that we were going to lift the borrowing limit. Those opposite had six hours in the budget lock-up to read the budget papers. It is very clear that after that six hours they were incapable of absorbing even the most basic information, because our intention to lift the borrowing limit has been flagged for a long time. It has been known in markets and it is there very clearly in the budget papers. Indeed, it is in budget statement 7 at page 18, but they could not find that. They could not read the budget papers. It was also in Budget Paper No. 4 at page 11, but after six hours they could not see it there.

Despite the fact that it has been flagged , despite the fact that it has been talked about in markets, they then missed something else, because the Assistant Treasurer came into the House and announced it. He announced it in this House, following the budget speech, to everybody in the House and to everybody listening. He did it in the appropriate place; he did it in the appropriation bills. Despite all of that in here, in the bright lights, in the people's House, in the parliament, they even missed that. Then it went another 48 hours before they suddenly realised that we were increasing the borrowing limit. That just shows how incompetent, how out of touch, they have become.

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