Angus Taylor (Hume, Liberal Party, Shadow Treasurer) Share this | Hansard source

Thank you, Deputy Speaker. Stephen Koukoulas, who was an adviser to Julia Gillard, was making commentary on the budget, particularly in relation to the impact that the budget might have on interest rates. Every good economist knows that a good budget, a budget that lays out a clear plan, can take pressure off the Reserve Bank, which means Australians face fewer interest rate increases than would otherwise be the case. Every Australian wants to see that mortgages are payable, that they have cheaper mortgages. It's something that was promised by those opposite.

Stephen Koukoulas, in commenting on the budget, said that the budget puts no downward pressure on inflation, leaving 'the Reserve Bank with all of the work, in carrying the can, in getting the inflation rate lower'. There was no plan in this budget. There was just leaving the Reserve Bank to carry the can. If the Reserve Bank carries the can, Australians pay the price—every Australian, particularly every hardworking Australian with a mortgage.

The Treasurer is running around saying that the budget was responsible. I've already said that there was an extra $115 billion of spending in the budget. When you take the March budget and look at the four years over the forwards—add up the spending there, and then compare that with this budget—there's an extra $115 billion of spending in this budget. That is not a responsible budget. I don't think anyone could call an extra $115 billion of loose change a responsible budget.

It gets worse. When you look across—

Honourable members interjecting—

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