Julia Gillard (Lalor, Australian Labor Party, Prime Minister) Share this | Hansard source

Let me explain this to the shadow Treasurer so that he can follow it. First and foremost, to the shadow Treasurer, let me explain to him: (1) as a percentage of GDP this is a far lower taxing government than the government he served in as the Work Choices minister; and (2) of course in my statement I was referring to the revenue write-downs against Treasury predictions. I refer him to the Mid-Year Economic and Fiscal Outlook. He may not have obtained a copy. He may not have read it but I suggest that he does.

I am referring him to the revenue write-downs made transparent at that time by Treasury in its forecasts and referred to publicly by the Treasurer, Wayne Swan. I also refer him to the undeniable fact that as a percentage of GDP, per unit of GDP, revenue to government is at its lowest percentage now since the early 1990s and that recovery of revenue is happening more slowly than Treasury predicted. These are facts.

I take it from this line of questioning that the opposition believes itself to be in a position to say that had it governed during the days of the global financial crisis it could have produced a surplus budget every year, notwithstanding the global financial crisis, notwithstanding what was happening in the global economy, notwithstanding the hit to revenues that flowed and the hit to revenues we are continuing to see flow.

Well, if the shadow Treasurer and the Leader of the Opposition truly think that that is the position they would have found themselves in if they were in government, and given that that is all dealing with past figures, there is no reason at all why tomorrow they could not walk into this parliament and table what they would have done in that budget situation to show surpluses across those financial years. Every fact, every figure is at their disposal. Let's not have the spin, the hysteria and the questions. Just come in tomorrow and table the document. And if they do not do that then let's not hear any of this nonsense ever again.

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