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

Madam Speaker, my question is to the Prime Minister. According to NATSEM, a single income family on $65,000 will be $6,000 a year worse off because of the Prime Minister's unfair budget.

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

You're making it up!

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

This week the Prime Minister has failed to rule out further cuts, including a $15 GP tax, cuts to the National Disability Insurance Scheme, scrapping the family tax benefit, further cuts to schools and hospitals. How much more will Australian families have to suffer under the Treasurer's alternative budget?

Mr Hockey interjecting—

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

The Treasurer will desist.

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

As a result of this government's budget, there will continue to be a strong and generous social safety net. For instance, a single-income family with three dependents, one aged under six and two aged between six and 13, earning $60,000 in 2016-17, after this government's budget, will receive $17,920 in government payments. The same family earning $70,000 will receive $15,970 in government payments. So this is a government that is more than ready to sustain and support a generous social security system. But the only way we can support a generous social security system is to get Labor's debt and deficit disaster under control. It is the only way. The only way that we can continue to support a generous social security system is by getting the budget back under control.

We need to pay social security benefits out of revenue and not out of borrowings, and that is what Labor do not understand. Labor think you can keep borrowing money to pay out. We think that what needs to happen is that the revenue the government receives has got to cover the payments the government makes. It is a very simple equation. If you cannot raise the money, you cannot spend the money. We understand that, members opposite do not, which is why members opposite just cannot be trusted with the budget. They have proved that over six years. They just cannot be trusted with the economy and that means they just cannot be trusted in government.