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

There are two points I will make about that report. First and foremost, it does put in place the revenue write-downs that we have experienced and the consequence for our budget over the forward estimates. There is no doubt that the challenge in the Australian budget is weaker revenues. The challenge in the Australian budget is not, as those opposite claim and as is mentioned in this report, that somehow we are spending too much. I absolutely reject that. It flies in the face of all of the available facts. Let us just go through them: real spending growth averages 1.1 per cent a year over the forward estimates of our budget—

Mr Hockey interjecting—

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