Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Hansard source

Their savings proposals on the 2015-16 budget is $1.25 billion. That is it. But there is $57 billion worth of savings that they will reverse, of new expenditure commitments and savings that we are seeking to move through this parliament. There is $1.2 billion in measures they put forward that they will not pass. There is $5.2 billion in savings and revenue measures that we as a government have put forward that they are now blocking. There is spending that Labor says we must restore from bank savings—that is, savings that have passed and that they wish to restore. That is some $30 billion in extra expenditure. There is $1.1 billion in other budget measures that they say they will not support and savings since the 2015-16 budget which we brought down—some $5.6 billion—that they will not support. And their promises on spending is $13.8 billion, and that is just since the budget. And the savings, which are a minuscule amount of the broader budget changes they are proposing because their revenue measures, their increased taxes, some $7.6 billion—even when you put their higher taxes together with their minuscule savings, they still do not even qualify to cover the promises they have made since just May. We saw them do this in government. They have learnt absolutely nothing. The penny should drop on that side that 'tax and spend and borrow' does not generate jobs and growth.

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