David Bradbury (Lindsay, Australian Labor Party, Assistant Treasurer ) Share this | Hansard source

The minister mentions Victoria. So if you want to see the damage they can do, look at that $1.7 billion worth of cuts and magnify it by another 70—$70 billion, that is the black hole they have got to fill. So when they come here and talk about debt and talk about these ridiculous comparisons with countries that are performing so poorly, they are trying to soften people up so they can do exactly what Premier Newman and Premier O'Farrell and Premier Baillieu are doing.

This is an important bill. This will play an important role in developing a deep and liquid corporate bond market. It is a critical reform that is part of the Gillard government's broad agenda to promote Australia as a leading financial services hub and to boost our reputation as one of the most attractive investment destinations in the world. Irrespective of what those opposite seek to say, we continue to be one of the best investment destinations in the global economy.

Question agreed to.

Bill read a second time.

Message from the Governor-General recommending appropriation announced.

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