Greg Hunt (Flinders, Liberal Party, Minister for Health) Share this | Hansard source

Firstly, I'd like to thank those members who have contributed to the debate on the Parliamentary Service Amendment (Post-Election Report) Bill. The bill will help to ensure that the time frame for the Parliamentary Budget Office to prepare the post-election report of election commitments allows additional time and additional scope to increase the way in which the report is able to include medium-term financial impacts of election commitments and include the policies of parties with less than five members, where that party has asked to be included. Additional time is also expected to enhance the visibility of the post-election report by moving the timing closer to the resumption of parliamentary sittings. Expanding the scope of the post-election report will increase transparency around the budget impacts of the election commitments that have been made by political parties. It is important the post-election report is accessible, informative and available in time to inform deliberations of the parliament.

I particularly want to acknowledge, and thank for their work, the Prime Minister, the Treasurer and especially the finance minister in ensuring that this change is brought forward. It builds upon the work that they have done in order to secure the nation's finances. Of course, we inherited a large fiscal black hole in 1996, and we repaired that. That, coupled with the financial services regulation, enabled Australia to pass through the GFC. It was not expenditure on pink batts and school halls which did that; it was the fiscal situation of the nation which allowed us to ensure that we avoided the worst of the international excesses and the worst of the international downturn.

At the same time, when we came into office in 2013, there was a deep structural deficit which had been built. Almost all attempts to pass legislation through the parliament which would deal with that structural deficit were blocked by those on the other side. Despite that, we have been able to bring the budget back to surplus, and I think that that is an abiding achievement. I want to honour, thank and congratulate the finance minister, the Treasurer and the Prime Minister for their work in that event. I commend the bill to the House.

Question agreed to.

Bill read a second time.

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