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

I am actually advised that over the next decade the pension is going to increase by 5.1 per cent on an annualised basis and in 2024-25, according to the Parliamentary Budget Office, instead of being $74.8 billion a year it is $67.9 billion a year. The aged pension represents around 10 per cent of the total national budget.

Mr Brendan O'Connor interjecting—

Mr Albanese interjecting—

See this speech in context