Scott Buchholz (Wright, Liberal Party) Share this | Hansard source

I do not intend to speak for long on the Commonwealth Inscribed Stock Amendment Bill 2013 because I believe that very early in the course of the day our Treasurer articulated the argument quite simply. Before I go to my notes, I would like to address some of the points raised by my colleague, the last speaker. He spoke about a lack of time with this bill—that they have not had long to consider it. I remind the parliament and I remind my colleagues that when we last left government there was no debt. There was no debt ceiling. We did not need a debt ceiling. This government came along and said, 'If we put a $75 billion debt ceiling in place, that will be enough to get us out of strife.' Then I think it went to $200 billion and we heard, 'That will be enough and then we will not have to touch it again.' Then it went to $250 billion and then I think it went to $300 billion. And yet they come into this House and oppose our request for a debt ceiling limit. If we look at the bleeding obvious and the evidence before the House, it is clear the forecast of the previous government has been absolutely atrocious. It is accurate to say that the previous government has not been able to sit hit the side of a barn with a budget forecast. He also went on to talk about tanking.

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