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

Thank you, Acting Prime Minister. I thank the member for his question to this side of the House. In fact, on ABC's RN Breakfast on 13 May 2010, this is what the member opposite said:

The government—

that is, the then Labor government—

has returned the budget to surplus three years ahead of schedule.

He actually proclaimed a surplus on 13 May 2010, three years ahead of schedule. What I said on ABC Radio this morning is that we will return to surplus when expenditure is less than revenue. That is what I said. You do not have to be a rocket scientist to work that out. But those opposite seem to have trouble with this proposition, because they were claiming that surpluses had been achieved when revenue was a fraction of expenditure.

What we have from those opposite, when you look at their fiscal prescription for the country at a time when ratings agencies are keeping a hawk eye on how things are progressing, is that their answer is to increase the deficit not just by $16.5 billion, getting rid of the company tax cuts for small business and everything else, but now by $16.8 billion. It has actually gone up since the time of the last election. So those opposite are wreckers of the nation's finances. The Australian people understand that, because they saw them do it for six long years.

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