Chris Bowen (McMahon, Australian Labor Party, Shadow Treasurer) Share this | Link to this | Hansard source

My question is to the Acting Prime Minister. Reports today confirm that MYEFO will be released on 19 December and the deficit will be up. Why has the Treasurer today refused to confirm the government's own budget papers, which show a return to surplus in 2021, and isn't it the case that this government is so chaotic that it would prefer to keep its $50 billion tax cut for big business rather than retain Australia's AAA rating?

Barnaby Joyce (New England, National Party, Leader of the Nationals) Share this | Link to this | Hansard source

I thank the honourable member for McMahon for his question. One only has to reflect on what the alternative is. When the alternative government talk about chaos, I keep on thinking about pink batts, and I think about cash for clunkers, and I think about hundreds of billions of dollars in debt. I think about citizens assemblies. What was that time when they all sat down on the carpet with a notepad to try to work out what they were going to do when they actually got into government—when Prime Minister Rudd sat down, or just Senator Conroy, full stop? When we talk about chaos, how could we go past the Australian Labor Party? How could we go past the whole retinue of madness which parades as an apparent political party with policy? If you want to talk about chaos, how about this: they got their new backpacker tax from Senator Jacqui Lambie. There is your new chief political adviser!

I would like to refer this to the Treasurer, because we have a lot to talk to you about if you want to know about chaos—chaos on your side.

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

Thank you, Acting Prime Minister. I thank the member for his question to this side of the House. In fact, on ABC's RN Breakfast on 13 May 2010, this is what the member opposite said:

The government—

that is, the then Labor government—

has returned the budget to surplus three years ahead of schedule.

He actually proclaimed a surplus on 13 May 2010, three years ahead of schedule. What I said on ABC Radio this morning is that we will return to surplus when expenditure is less than revenue. That is what I said. You do not have to be a rocket scientist to work that out. But those opposite seem to have trouble with this proposition, because they were claiming that surpluses had been achieved when revenue was a fraction of expenditure.

What we have from those opposite, when you look at their fiscal prescription for the country at a time when ratings agencies are keeping a hawk eye on how things are progressing, is that their answer is to increase the deficit not just by $16.5 billion, getting rid of the company tax cuts for small business and everything else, but now by $16.8 billion. It has actually gone up since the time of the last election. So those opposite are wreckers of the nation's finances. The Australian people understand that, because they saw them do it for six long years.