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

Both the finance minister and I spoke with the Treasury and said that it would be a good idea for them to put them on the record in estimates because these have never been provided in this way before. They were never provided by those opposite when they were in government. So, once again, another deception. It is all part of their fiscal fear mongering.

What this is all about is an attempt to bully the Australian nation into the unwinding of the social safety net, and massive cuts to health and education a la Campbell Newman. His commission of cuts was all about hiding the truth before the election. What they want to do is go to the election pretending Australia has an unsustainable level of debt and that therefore there will have to be very big cuts to public expenditure after the election.

Now, there are just a couple of problems with that. The rating agencies recognise how responsible our fiscal policy is, which is why we have a AAA rating from the three global rating agencies—with a stable outlook for the first time in our nation's history. That fact is very embarrassing for those opposite because we understand the importance of good, strong fiscal policy to support jobs and growth, unlike those who want to cut to the bone in health and education and to cut jobs. (Time expired)

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