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

I will give him another chance. My question is to the Treasurer. I remind the Treasurer that in last year's budget speech he said: 'The four years of surpluses I announce tonight are a powerful endorsement of the success of our policies.' Given that the government posted a deficit of $19.4 billion this year and is projected to deliver $29 billion of further deficits, is that not a powerful confirmation of the failure of the government's policies?

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

No, it is not. What this government stands for is jobs and growth and in our time in office there have been over one million jobs created—one million jobs—and 500,000 jobs created in the last three years. We have put in place a range of policies to ensure that that continues. It would have been deeply irresponsible in the circumstances of this year's budget to come back to surplus quicker because the effects of that would have been on Australians in small businesses right around our country. So it is very clear now what the contrast is in this House between the policies of the government and the opposition. We stand for jobs and growth. The logic of their position is very clear: they stand for savage cuts to public expenditure to come back to surplus at any price and at any cost. That is the very clear contrast.

We get this fiscal fearmongering from those opposite. They go around and talk our economy down, exaggerate the levels of debt, and what is that all about? It is all about the fact that they do not want to tell the Australian people what they would do if they were in power, which is a Newman-style austerity program, which will slash jobs in the Australian community and make massive cuts to health and education.

We on this side of the House are proud of the fact that our No. 1 priority—it is in our DNA—is to support jobs and growth. It is the responsible thing to do in the circumstances in which we find ourselves as a nation. Global uncertainty demands that what we do is support growth with a responsible level of debt and deficit. That is an important thing to do. The contrast was there during the global financial crisis when those opposite refused to support our stimulus. Indeed, the Leader of the Opposition slept right through the critical vote. He was drunk and did not come into the House. He slept right through that vote—

Opposition Members:

Opposition members interjecting—

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

Order! The Treasurer will withdraw. The Manager of Opposition Business will resume his seat. The member for Bendigo is not assisting. The Treasurer will withdraw.

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

I withdraw.

Mr Pyne interjecting—

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

The Manager of Opposition Business has the call and does not have the right to direct me as others on the bench are about to suggest.

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 Speaker, with great respect to you, I put it to you that the Treasurer has vastly gone past what is considered reasonable in this place. I would ask you to be absolutely certain for the rest of question time that he does not repeat that extraordinary performance.

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

The Manager of Opposition Business will resume his seat. I was trying very quickly to draw the Treasurer's attention to what I thought was a very outrageous comment. I was actually trying to do it at the time. I take it very seriously and I will be watching carefully. The Treasurer has the call.

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

Thank you, Speaker. Those opposite—

Honourable members interjecting—

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

And those who want to talk about trashing parliament perhaps should take a look at their behaviour at every question time.

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

Thank you, Speaker. Those opposite voted against the stimulus that saved Australia, that saved hundreds of thousands of jobs. There are many members on this side of the House who remember that vote. I will remember it for the rest of my life. I could not believe that those opposite could be so irresponsible to come into this House and vote against that stimulus that protected our community when global demand fell off a cliff. It was deeply irresponsible. The Leader of the Opposition was not here. He was around in the House earlier in the evening and he was witnessed by many people on this side of the House for his activities on that evening.

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

I now warn the Treasurer.

Mr Briggs interjecting—

I would not be tempting my fate, Member for Mayo.

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

Madam Speaker, I have a supplementary question. I refer to the Treasurer's answer when he claimed he is all about jobs growth. Treasurer, is it not the case that if in fact you had the same level of jobs growth as occurred under the previous coalition government, an extra 400,000 jobs would have been created in the last five years?

Honourable Members:

Honourable members interjecting—

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

Order! The Treasurer will have the call when I have silence.

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

Well, so here we go again. The global financial crisis and the global recession never happened—did not happen—and therefore there was no need for a fiscal stimulus and no need for the actions that the government took which saved our country from recession. This is acknowledged by every responsible economic authority in the global economy, but it is not acknowledged by those opposite because there is no length they will not go to to talk down our economy, to talk down its performance. They are not proud of the fact that there has been just under a million jobs created since we have been in power.

Honourable Members:

Honourable members interjecting—

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

Order! The Treasurer has the call and has the right to be heard in silence.

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

And, indeed, 500,000 jobs created in the last three years. Let us just think about the last three years. What has been happening in the global economy in the last three years? There were the aftershocks of the global financial crisis and a global recession. We have had recession in Europe for something like six quarters. We have had the fiscal crisis in the United States. We have had all of the challenges in Japan. And in the middle of all of this our economy has shone out like a beacon for its resilience and strength. That does not mean to say that everything is okay for everybody but those opposite should have the pride in our country to at least acknowledge how well we did.

Opposition members interjecting —

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

Members opposite need to understand that they do not have the right to continually interject during everyone's answers. The member for Reid has the call.