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

That is the Labor Party's definition of savings. And then the second part of the $180 billion—

Mr Bowen interjecting—

I'm coming to you, china, in a minute—just a second. With the second part of the $180 billion, I thought, 'Wow, they saved $180 billion'. But they spent $152 billion of it on new expenditure. The problem was the expenditure kept going up and up and up, and that is why we are facing $667 billion of debt.

The fact is Labor once upon a time believed in structural reform. You know, Bob Hawke and Paul Keating, they believed in structural reform. In fact I went to the member from McMahon's book and found that he said:

The Hawke Government was introducing tough and controversial reforms to modernise the economy. … I knew that Labor was trying to make the economy grow so that kids like me could get better jobs.

If that is the case, then he should now be rusted on to our structural reforms that deliver a stronger economy. Instead, the Labor Party cannot hold a policy from week to week. They terminated the carbon tax, but now they are voting to keep it. Three weeks ago they said they were totally opposed to the deficit levy, now they are going to support it. And yesterday they were backgrounding that they were going to allow through the government's proposals in relation to the family tax benefit and then, today, they come out and say, no, they have reversed their position. So if Labor cannot hold a position from day to day and if Labor cannot hold a position from week to week, there is no chance, no chance on earth—

Dr Chalmers interjecting—

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