Jane Prentice (Ryan, Liberal Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer please outline the importance of sustainable and responsible budgeting? What does this mean for my constituents in Ryan?

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

I would really like to thank the member for Ryan for that question. There is no doubt that the budget this year has been very successful. I say so because the $5.5 billion small business program has been the most successful—

Mr Perrett interjecting—

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

The member for Moreton has been warned.

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

small business initiative ever delivered by a government, and it was delivered by the coalition. It was a budget for families, with a $3.5 billion increase in more affordable, flexible child care. It was a budget for infrastructure, with more than $50 billion for new infrastructure being provided through the budget over the next few years. And the results are starting to come in. The Commonwealth Bank business sales index came in today, indicating that sales across the business services sector posted a 1.9 per cent trend increase during the month, the biggest increase in three years. That is the biggest increase in sales in three years. As they say at the Commonwealth Bank, 'the news is encouraging'—and, importantly, it is broad based. Of course, you have to pay for all this. In the last week of parliament, $3.3 billion of savings passed through the Senate; savings that had, in some cases, been promised by Labor, were then opposed by Labor and are now supported by Labor, who cannot seem to make up their minds.

Yesterday an additional $2.4 billion of savings passed through the Senate as a result of the initiatives in relation to changes to the pension. These changes are because we want to give people with the lowest income more of the pension and we want to ensure that those people who have millions of dollars in their bank accounts do not get the pension. I might say that, in addition, a further $1.1 billion worth of savings passed through parliament with the changes to the seniors supplement yesterday as well. So there is good progress being made.

Today the Labor Party has been mugged by reality about the budget mess that they left behind. Today they have come on board with changes to fuel excise. It has taken them a while; they were opposed to it—

Opposition members interjecting—

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

The member for Isaacs and the member for Parramatta will desist.

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

and now they support it. And we welcome the support of the Labor Party, but there is still a long way to go to fix the mess left behind by Labor. We accept the proposal to spend an extra $1.1 billion on Roads to Recovery, a program that we backed, because it is backed and because it fits neatly with the narrative of the 'Infrastructure Prime Minister', the 'Infrastructure Treasurer', the 'Infrastructure Infrastructure Minister' and the 'Deputy Infrastructure Minister'. It is all part of the coalition's plan for a stronger Australia. (Time expired)