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 this taxpayer-funded newsletter distributed in his electorate, which states, 'We have delivered a surplus, on time, as promised.' Given there is only one Labor man in this chamber who could boast of having delivered a surplus, will the Treasurer now write to his constituents and apologise for lying to them?

Ms Anna Burke (Speaker) Share this | Link to this | Hansard source

The last part of the question is obviously out of order.

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

This government makes absolutely no apology for putting Australian jobs and Australian growth first—absolutely no apology. It is what drove us through the global financial crisis to support employment; it is what drove us through the global financial crisis to support small business. As a consequence, the Australian economy is now 13 per cent larger than it was at the end of 2007. What we have here is a Liberal Party that is constantly at war with the facts.

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

Madam Speaker, I rise on a point of order as to relevance. The question was directly related to taxpayers' money being spent on boasting about having delivered a surplus.

Ms Anna Burke (Speaker) Share this | Link to this | Hansard source

The member for North Sydney will resume his seat. The Treasurer has the call and will refer to the question before the chair.

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

At the end of last year there was an extreme bout of volatility in the global economy not dissimilar to what we had coped with some years before. The consequence of that was a very substantial revenue write-down. So I said to the Australian people that it was unlikely we would return to surplus in 2012-13, notwithstanding the fact that there is still a very strong fiscal consolidation going on in our balance. We are doing that because we put jobs and growth first. The proposition being put by those opposite is very simple. They are saying they would have cut government spending early this year in the face of the global volatility, thereby reducing growth and causing higher unemployment.

The proposition at the heart of all of the questions asked here today and put forward by the Leader of the Opposition is this: they would have cut $160 billion worth of revenue write-downs from the Australian budget over the last five years—and I can tell you what the consequence of that would have been. That would have been a sledgehammer to the Australian economy and would have resulted in massive unemployment. It also would have resulted in higher deficits and higher debt. They want to have a debate about deficit and debt in this country. We are the party of growth and jobs; they are the party which will take a sledgehammer to the economy. We are seeing the leading edge of that now in the $70 billion crater in their budget bottom line—

Ms Anna Burke (Speaker) Share this | Link to this | Hansard source

The Treasurer will refer to the question.

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

and the commitment by the Leader of the Opposition to abolish the Schoolkids Bonus and to take that money away from the Australian people.

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

I am seeking to table the Treasurer's newsletter to his constituents.

Ms Anna Burke (Speaker) Share this | Link to this | Hansard source

Is leave granted?

Anthony Albanese (Grayndler, Australian Labor Party, Leader of the House) Share this | Link to this | Hansard source

No. I refer to yesterday's comments.

Leave not granted.