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

The problem was that it was 3.7 per cent. Oops! So of course Labor claimed they were going to get back to surplus one day into the future, but the assumptions that underpinned it were flawed and there are a number of areas where they were actively deceptive. For example, the Labor Party, if they were re-elected, would have had to put money into the Reserve Bank.

See this speech in context