Brett Raguse (Forde, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer outline for the House the reasons why plans to delay in the Senate the introduction of key budget measures, which will threaten the inflation-fighting surplus, are irresponsible?

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

This government has built a very strong budget surplus—$22 billion—to fight inflation and put downward pressure on interest rates; it is called responsible economic management.

Joe Hockey (North Sydney, Liberal Party, Manager of Opposition Business in the House) Share this | Link to this | Hansard source

Mr Hockey interjecting

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

Order! The member for North Sydney is warned.

Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

It is a responsible surplus that will put downward pressure on inflation and downward pressure on interest rates. It is the sort of responsibility we have not seen from those on the other side. We now have a delay in the Senate and that is going blow something like a $284 million hole in that surplus. They are completely irresponsible.

We had an announcement from the Leader of the Opposition in his budget reply that he was going to cut some money from the fuel excise. And of course last week we had the member for Aston—the prime supporter on the backbench of the member for Higgins—deciding that he wanted to double it. Then on Sunday we had the leader of the National Party saying that he was going to quadruple it. But of course we know that the member for Wentworth has never supported it at all. On one day they want to cost the budget $1.8 billion, on the next day it is $3.6 billion, and on the following day it is $7.2 billion. All we are getting from those opposite is uncosted proposals.

They have worked out how to announce a policy, but they have not worked out how to cost a policy. They have not costed any of their policies. On this side of the House we have a government that is responsible. It has built a strong surplus to put downward pressure on inflation and downward pressure on interest rates. On the other side of the House we have a body of people who have put forward uncosted, unfunded proposals that put upward pressure on inflation and upward pressure on interest rates.