Bill Shorten (Maribyrnong, Australian Labor Party, Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Prime Minister. I refer to the Prime Minister's words this morning, when he said, 'The fact that something is false won't stop a desperate politician repeating it over and over again.' Is that why the Prime Minister continues to claim over and over again 'no broken promises', 'no changes to pensions', 'no cuts to health and education' and 'no new taxes'?

Tony Abbott (Warringah, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

There are no changes to pensions in this term of parliament. All savings in health are being reinvested in health, and overall health spending increases. I am happy to say that, yes, the top marginal rate of tax goes up by 2c in the dollar for three years, and that will impact on people earning over $180,000 a year, which is less than three per cent of all taxpayers. And indexation—

Mr Tony Burke (Watson, Australian Labor Party, Shadow Minister for Finance) Share this | Link to this | Hansard source

What about petrol?

Bill Shorten (Maribyrnong, Australian Labor Party, Leader of the Opposition) Share this | Link to this | Hansard source

What about petrol?

Tony Abbott (Warringah, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

Yes, we have fuel excise indexation; and, yes, in the first year that will cost the average family between 40c and 60c a week.

The truth is that all of us have to contribute to the budget repair job. We all have to contribute to the budget repair job. The sad truth is that every single Australian is paying the price for Labor's debt and deficit disaster. Every single Australian is paying the price for Labor's debt and deficit disaster. Labor's interest bill is $1 billion every single month. This is the sad price that every single Australian is having to pay to repair six years of incompetence, debt and deficit deceit. That is the price.

Do I regret this? Of course I regret it. We are all having to pay the price of Labor's incompetence. Of course I regret it, but I make no apologies ever—ever—for doing what is necessary for this country. I make no apologies whatsoever for doing what is necessary for this country. The people of Australia elected us to fix the mess that Labor left, and fix it we will.

I ask that further questions be placed on the Notice Paper.