Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Hansard source

That restraint that was showed in October is best represented by the fact that we returned 99 per cent for two years of the upward revenue revisions. The previous government averaged 40 per cent and the Howard government averaged 30 per cent. We had payments falling in real terms over the next two years; the previous government averaged 2.6 per cent real spending growth before the pandemic. We had payments growing in nominal terms by an average annual rate of 4.3 compared to 5.9 under our predecessors. Most importantly, we found $22 billion in savings in the March budget.

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