Craig Emerson (Rankin, Australian Labor Party, Minister for Trade) Share this | Hansard source

Thank you. Talking about policies that are needed to maintain our competitiveness, of course, sound fiscal policy is needed, and I want to take the opportunity to congratulate the Treasurer of Australia for his award—for the accolade and the recognition that he so richly deserves.

But of course a large budget black hole totalling in round figures $70 billion would undermine Australia's competitiveness. To be fair, is there a $70 billion black hole in contemplation? I think that is a worthy question to ask. Well, not if you believe the Leader of the Opposition, who says it is absolutely fanciful and there is no $70 billion black hole in contemplation. But there is another view, and it says, no, it is not a furphy; we came out with that figure.

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