Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Hansard source

And what waste we have seen in the NBN. What a terrible and sad story—a litany of waste and incompetence associated with a bill that would have well exceeded $70 billion, if it had remained on track. The net result of all that was $667 billion of debt and $123 billion of deficits over the next four years on top of $190 billion of deficits over the last five years. That $190 billion worth of deficits over the last five years is the equivalent of 200 major new teaching hospitals across the country.

What are we going to do? We are going to fix the mess. Tough decisions will have to be made, because sooner or later the truth about the budget was going to be out. The record of Labor is rich.

Mr Butler interjecting—

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