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

It remains the case that this government has overseen the biggest positive turnaround in the budget in a parliamentary term in Australian history. We have turned two big Liberal deficits into two big Labor surpluses, and that is a powerful demonstration of our responsible economic management. That's why Deloitte made two points. First, Deloitte acknowledged our fiscal discipline and said we deserved credit for banking upward revisions to revenue. They also said in their report that the soft landing that we are seeking is looking likely in our economy. Those are two points that Deloitte made in their report.

We have made it really clear that there are pressures on the budget that we are working in a responsible and methodical way to deal with.

Opposition members interjecting—

I wanted to give those opposite, who are chirping away, an example of these pressures on the budget. When the mid-year budget update is released in December, one of the biggest increases in spending will be for veterans. That's because of the work that we have done to make sure that veterans are getting their claims processed and getting the support that they need and deserve after a lifetime of service. So what you'll see in the MYEFO is a big increase in funding for veteran support. Those opposite describe looking after veterans as 'wasteful spending'. They think it's wasteful spending. This shows us, once again, what a risk they are to the household budgets of people right around this country. We are increasing support for veterans. That will be one of the reasons why there's a deterioration in the budget. Those opposite don't support it, and that shows again what a risk they are to the budget and to household budgets right around Australia.

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