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

I thank the honourable member for the question. It was totally unexpected, given that he has done a few press announcements about it earlier today. I agree with the honourable member: it has been the coalition that stopped the boats, it has been the coalition that has closed now nine detention centres, it is the coalition that has saved $2.5 billion from the budget. But let me talk a bit about the PEFO, the Pre-election Fiscal Outlook that is released by the secretary of the Treasury and the secretary—

Mr Bowen interjecting—

I am coming to you in a minute, china. Just relax. And the secretary of the Department of Finance. The fact is that it reflects the government's policy at that time and the policy assumptions that form the basis of the government's policy at that time. As we know, the Labor Party assumed that growth in expenditure would be limited to two per cent if they were re-elected.

Ms Owens interjecting—

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