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

I want to deal with a policy issue that was asked of me by the honourable member for Reid. The question was: why are we focusing on reducing the debt and deficit? I can inform the House that Fitch Ratings, the credit rating agency, have just released a statement to say, 'Aussie budget enhances long-term sovereign risk profile.' They say:

… it is positive for Australia's long-term sovereign risk profile that the planned fiscal consolidation will be driven primarily by structural reforms to spending.

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