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

We will not allow a billion dollars of interest per month to have to be paid now in order to address the legacy of debt left by Labor. We will not allow it to grow to $3 billion a month in interest in 10 years as a result of the reckless spending initiatives of the Labor Party. We will not burden every single Australian in 10 years time with a debt of $25,000 per person if Labor's spending initiatives remain unchecked. We are determined to fix the budget. We are asking Australians to make a contribution along the way. If we make a contribution now then the pain in the future associated with fixing the mess will be less. But, if we do not take action now, the pain in the future for everyday Australians will be far greater.

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