Adam Bandt (Melbourne, Australian Greens) Share this | Link to this | Hansard source

My question is to the Treasurer. With Victoria recording negative economic growth per capita, the future of Holden in doubt, and last week's national accounts showing the importance of public spending to the country's economic health, does the Treasurer agree that it would be the wrong time to make harsh cuts in next weeks MYEFO and in the upcoming federal budget?

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

If the honourable member for Melbourne really cared about the budget, and I am hoping that he does, but he was in a partnership with the Labor Party whilst in government—

Mr Bowen interjecting—

Listen mate, you were the one who went up to the altar with him!

Honourable members interjecting—

The fact of the matter is that the Greens and the Labor Party have formed a partnership in the Senate to block $20 billion of savings. They are not savings we have announced since the election. There are $15 billion in savings we took to the last election and there are $5 billion in savings the Labor Party took to the last election, and the Labor Party is now opposing them. So the Labor Party and the Greens are opposing their own savings, which would improve the bottom line and reduce government debt. The Labor Party and the Greens are so appalled at the state of the budget that they are going to oppose everything we are trying to do to fix it. I tell you what: they are hypocrites writ large.

So I say to the member for Melbourne: if you really care about the budget, back what the coalition is doing. And if you do not have it in you to back what the coalition is doing, back what the Labor Party promised at the last election, because not even the Labor Party has the guts to stand by what they promised the Australian people at the last election when it comes to fixing the budget.