Andrew Robb (Goldstein, Liberal Party, Chairman of the Coalition Policy Development Committee) Share this | Link to this | Hansard source

My question is to the Acting Prime Minister. I refer to Labor's claim that it would bring the budget back to surplus this financial year despite collecting much less revenue than forecast and needing to fund its $120 billion black hole. Will the Acting Prime Minister rule out changes to the taxation of diesel fuel in order to achieve a surplus this year?

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

I thank the shadow finance minister for his question. I think I answered this question yesterday, and I have answered it already today. The fact is that we are determined to bring our budget back to surplus. We have put in place over five budgets very substantial savings to make room for our priorities, and I have made it very clear today that we will keep the tax-to-GDP ratio at or below the level we inherited.

Those opposite, when they were in government, were the highest taxing government in our history, and as is consistent—

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 is now not being relevant. He was simply asked if he would rule out extra taxes on diesel fuel in order to fund his $120 billion black hole. He is now straying from the question.

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.

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

I do not accept the very premise of the question. The only hole around here is the $70 billion hole in their budget bottom line, which the shadow Treasurer admitted to on breakfast television, right beside the minister for the environment. He was sitting there and saying there was a $70 billion crater in the budget bottom line. As I said yesterday, if he is so concerned about financing, he can duck around to the Parliamentary Budget Office—it is not as far as Aussies; he could get there pretty quickly—and get all of his costings in. He has also told us that he has got them all done. He said that a few weeks ago. Every single one of their costings is done.

The fact is that we will produce a mid-year budget update and a budget next year. The big question is: are they going to do a Campbell Newman and keep their plan hidden prior to the election? The only way to be sure that that is not going to happen is for them to submit their fully costed policies, they claim, to the Parliamentary Budget Office. Of course, they are not doing that.

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

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

I was asked a question about so-called holes in budgets. I have also said that, in going through and having all of our deliberations about what we will put in various mid-year statements and budgets, we will do that in the normal way.