Tony Abbott (Warringah, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Acting Prime Minister. I remind him of Labor's growing list of unfunded spending commitments, including up to $10½ billon each year for the NDIS, $6½ billion for schools, $2 billion for border protection blow-outs and $2 billion for a dental scheme. At the same time, the government is set to collect far less revenue than forecast in the budget. Where is the money coming from?

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

This government is absolutely committed to putting in place a responsible fiscal policy. In doing that, we will bring our budget back to surplus on time and as promised. Over four budgets we have put in place $100 billion in savings to fund our priorities, including, in our last budget, $33 billion worth of savings—and we will continue to do that. We have done that in the face of massive revenue write-downs caused by the problems in the global economy. We have done all that and we will do it again—because we understand the importance of good fiscal policy. We do that in very stark contrast to those who sit opposite.

We had a revelation the other day from the shadow Treasurer. On 21 August, he said:

We have found all our savings and we have got our policies, we are ready to roll if an election is called tomorrow.

From this government you will see the midyear budget update, due by the end of the year, and you will see our budget next year. But we do not have any commitment from those opposite to transparency or to the Charter of Budget Honesty.

I say this to the shadow Treasurer: if you have your policies ready to roll, you can take a walk around to the Parliamentary Budget Office—it is not even as far as Aussies. I reckon he can get around there pretty quick and he can give them all of these costed policies he told us about on 21 August. Then we will see the $70 billion crater in their budget bottom line. Then the truth will be out there for all to see: the hidden agenda of the Liberal Party, the one unfolding in Queensland—the hidden agenda to slash health and education.

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

Order! The Acting Prime Minister will return to the question before the chair.

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

If they are going to fill their $70 billion crater, that is what they will be doing. So take a walk—

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

Order! The Acting Prime Minister—

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

It is only a hundred metres or so. Go and give your policies to the Parliamentary Budget Office.

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

On a point of order, Madam Deputy Speaker: the Acting Prime Minister completely ignored you when you were trying to call him to order.

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

I was attempting to get the Acting Prime Minister's attention. Has he concluded?

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

Yes.

Tony Abbott (Warringah, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

Madam Deputy Speaker, I ask a supplementary question. Given that, of the $33 billion in savings the Treasurer referred to, $17 billion was actually tax increases, will the Acting Prime Minister now rule out increasing existing taxes or introducing new taxes to fill the government's $120 billion budget black hole?

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

I reckon the member for Wentworth is going to be pretty happy because at least he has got the Leader of the Opposition to ask a question on the economy! So I do welcome that question. I welcome that question about tax because I am very happy to talk about tax. I am very happy to talk about the record of our government compared to your government. You came from a government which had the highest tax in history—the highest taxing government in Australian history. Tax to GDP peaked at 24.2 per cent under the Howard government and—

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

Madam Deputy Speaker, on a point of order: the Treasurer was asked whether he would rule out increasing existing taxes or introducing new taxes to fund his $120 billion black hole—

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

The Manager of Opposition Business will resume his seat. The Acting Prime Minister has the call. It was a fairly large question, but I would ask him to return to the question before the chair.

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

I was asked about tax and I am answering that. We in government have made the commitment to keep tax below the level that we inherited—23.7 per cent of GDP. I have pointed out that the members opposite served in a government which was the highest taxing government in our history. Then I was asked about a hole, when the fact is that there is a $70 billion crater in their budget bottom line and the shadow Treasurer has told everybody that all the costings are done. So, if all the costings are done, why doesn't he just take the walk around to the Parliamentary Budget Office and slip in all of the opposition's plans so the public can see. But we remain committed to the commitment we gave— (Time expired)

Mr Pyne interjecting—

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

I think the member for Sturt might be treading on dangerous ground if he is going to be talking about paying respect to the Deputy Speaker!