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 an ABC report titled Federal officials concerned budget process is adrift two months before it is delivered. If it is five minutes to midnight, and even Treasury officials are confused, doesn't this confirm that the same cuts and chaos of the last budget will be front and centre of this budget?

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

I thank the Leader of the Opposition for his question, because obviously it is important that our budgetary position continue to improve. It needs to improve because of the disaster that members opposite created. As the Australian people now well know, under members opposite the six biggest deficits in our history were bequeathed to this government—the six biggest deficits in our history. $250 billion-plus of deficit was created by members opposite in their six budgets. In last year's budget we made a very good start on budget repair—an excellent start.

Opposition Members:

Opposition members interjecting—

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

Again, I refer members opposite, who persist in these interjections—

Ms Owens interjecting—

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

The member for Parramatta, the Prime Minister has the call.

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

I refer members opposite to the Treasury experts' Intergenerational report

Mr Conroy interjecting—

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

The member for Charlton will desist.

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

which shows where we were going under the policy of the previous government. Treasury experts show where Labor's policies were taking our country. We were taking debt and deficit—

Opposition members interjecting—

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

We do not have props.

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

to southern European levels under the ouzo economists sitting opposite. What the restructuring that this government proposed last year would have done would have been to fix the budget for a generation.

I accept that not all of the measures proposed last year have passed through the parliament. I accept that because members opposite, having been wreckers in government, are saboteurs in opposition as well. The good news is that the measures that have passed the parliament will take us close to balance by 2020 and, going forward, they halve Labor's debt and deficit.

What that means is that a solid foundation has been laid. Debt and deficit that was out of control when members opposite were in charge is now well and truly manageable under this government. Last year's budget is a very strong foundation for this year's budget. It will be prudent, frugal and responsible. But, I have to say, there will be good news in this year's budget—good news for families through increased child care and good news for small business through the tax cut that they need and deserve.