Deborah O'Neill (Robertson, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Is the Treasurer aware of recent reports about the importance of credible policies to return the budget to surplus? What is the government's response?

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

I thank the member for that very important question. We know that the recent natural disasters have had a significant impact on our economy, but these events have not knocked our economy off its path. Our fundamentals are strong because we have low and falling unemployment, we have record terms of trade and we have an unprecedented investment pipeline. We saw that with the capex data last week and we saw it with the ABARES data as well. We have a record investment boom which is going to stretch the capacity of our economy. That is why we have put in place measures to support our workforce for the future and that is why we put in place some tough savings measures to bring our budget back to surplus in 2012-13. That is also why we put in place something like $22 billion worth of savings over the forward estimates.

It was very important to do all of that, but it stands in stark contrast to the approach of those opposite, who have no plan to bring the budget back to surplus and no plan for jobs. We have seen today this absolutely extraordinary effort by the shadow Treasurer, who started to blame all of his colleagues for the shocker that he had at the Press Club.

Christopher Pyne (Sturt, Liberal Party, Shadow Minister for Education, Apprenticeships and Training) Share this | Link to this | Hansard source

Mr Speaker, I rise on a point of order. I listened closely to the member for Robertson's question and it certainly did not call for this needlessly negative response from the Treasurer. I ask you to call him back to the question he was asked.

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

Order! The member for Sturt will resume his place. The Treasurer has the call.

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

I was talking about the importance of coming back to surplus. Nothing could be more important to our economy. Of course, those opposite have no plan to come back to surplus and I simply made the point that in the Financial Review today the shadow Treasurer was blaming all of his colleagues for the fact that they have no plan to come back to surplus.

Christopher Pyne (Sturt, Liberal Party, Shadow Minister for Education, Apprenticeships and Training) Share this | Link to this | Hansard source

Mr Speaker—

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

Order! The Treasurer has the call! The Manager of Opposition Business will resume his place. He will learn to sit there quietly and then I will allow him to take action. But, if he is going to prattle on through every answer, he will learn that I have limited things I can do with him. One of them is to send him out for an hour and then he cannot take any action as Manager of Opposition Business. Or I can warn him and then name him and he will be out for a day. But, on this occasion, I think he should just take this as his punishment. He has had his one point of order. The Treasurer has the call.

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

This morning we had the incredible sight of the shadow Treasurer writing to the Financial Review saying it was not all his fault; it was all the work of Mr Robb and all the work of the Leader of the Opposition. But he did say they described it as a very good speech.

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

Order! The Treasurer will relate his material to the question.

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

This is pretty important because, as Ben Packham said today in the Australian: 'Some Liberals believe the letter is evidence of Mr Hockey's frustration at what he sees as Mr Abbott's lack of interest in economics.'

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

Order! The Treasurer must relate his material to the question.

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

Like Dr Hewson and so many on that side of the House, they know the Leader of the Opposition does not have any positive alternatives for our economy.

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

Order! The Treasurer will bring his response to a close.

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

Mr Speaker, I am talking about the importance of bringing our budget back to surplus and the fact that those opposite do not have a clue—

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

The Treasurer will resume his place! Order! As I have outlined, some of these responses were previously allowed under the relevance rule. There is a higher bar. The question must be directly relevant and, if that question were reviewed, there would be one missing element that would have allowed this response to be directly relevant. I am advising the Treasurer to relate his material in a directly relevant manner—not under the old rules of relevance but directly relevant. I call the Treasurer, but he will now bring his answer to a conclusion.

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

I was asked about credible economic plans for the future, the importance of bringing a budget back to surplus, why that is important because of the investment pipeline that we have coming in place, and the need to lift pressure on all of the elements associated with the workforce and so on to support our workforce. All of those things are policies which are opposed by those opposite. You can only laugh when the shadow Treasurer has to blame his colleagues for his incompetent performance.