Joe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Link to this | Hansard source

My question is to the Treasurer. I refer the Treasurer to his statement yesterday that the government has made $130 billion of savings in the last five budgets. Given that over half of his so-called savings are in fact tax increases, will he now release to the Australian public in detail the full list of his so-called $130 billion of savings?

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

It gets better by the day! The shadow Treasurer has denied that we have made $130 billion worth of savings in the budget, even though it is in the budget. He now wants me to release all of the detail that was in the budget.

Joe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Link to this | Hansard source

Madam Deputy Speaker, on a point of order: I ask the Treasurer to table the list of his so-called $130 billion in savings. Stop making it up!

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

The member for North Sydney will resume his seat. The Treasurer has the call.

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

Well, if I had the budget papers here, I would table them. I am happy to table them any time. But I think what this demonstrates is how sensitive those opposite are about the fact that they have a $70 billion crater in their budget bottom line. This is what the shadow Treasurer said on Sunrise: 'Therefore, finding $50, $60 or $70 billion is about identifying waste in areas'—

Joe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Link to this | Hansard source

Madam Deputy Speaker—

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

Order! The Treasurer will resume his seat. The member for North Sydney has already taken his point of order on relevance. The member for North Sydney will resume his seat. The Treasurer has the call and will refer to the question.

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

Most certainly—I am dealing with savings and I am dealing with budget bottom lines. Of course, he was then contradicted by the shadow finance spokesman, who said that 'talk about this is fictional' on 16 March 2012. Well, it was not fictional, because this shows where he said it, on breakfast television, sitting beside the minister for the environment.

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

Order! The Treasurer will not use props.

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

So it is true.

Mrs Bronwyn Bishop (Mackellar, Liberal Party, Shadow Minister for Seniors) Share this | Link to this | Hansard source

Madam Deputy Speaker, I rise on a point of order. I refer you to page 566 of the new Practice, where it states quite simply that, if the minister is unable to provide an immediate substantive answer—that is, the list—he should take it on notice and provide it in a written form. Would you ask him to do so, please?

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

The member for Mackellar will resume her seat. The Treasurer has the call.

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

Thank you, Madam Deputy Speaker. Each year, under the Charter of Budget Honesty, we produce both a budget and a mid-year update which contain a consolidation of all of the decisions which have been taken by the government. Of course, when we do the mid-year update, our decisions will be there for all to see. All the previous decisions are in the previous updates and in the previous budgets. But what this is all about is the fact that they are very, very sensitive about the $70 billion crater in their budget bottom line.

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

Order! The Treasurer will resume his seat. The Manager of Opposition Business on an issue other than relevance?

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

Well, I am defying your ruling, Madam Deputy Speaker, where you asked him to be relevant and, if he could not be relevant, to conclude his answer. Since he will not produce the list he should sit down.

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

The Manager of Opposition Business will resume his seat. The Treasurer has the call.

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

The shadow Treasurer was correct to say that over five budgets we have made $130 billion worth of savings, and of course we hope to make savings in the future. For example, the health minister is trying to get rid of the chronic disease scheme at the moment, because costs are blowing out—opposed by those opposite. The sorts of savings we have made have been to means test the private health insurance rebate—opposed by those opposite. As a consequence of their fiscal irresponsibility, they have a $70 billion crater in their budget bottom line, and that is why they are so sensitive about this matter. We on this side of the House will get on with putting in place our fiscal rules, doing the right thing by the country, keeping growth going and generating jobs, while those on the other side will continue to be negative, continue to try and tear our economy down and talk the place down all the time.