Keith Wolahan (Menzies, Liberal Party) Share this | Link to this | Hansard source

There is a sense of despair in Australia, and it is not just about the cost of living, which has seen the price of milk go up 18 per cent, bread go up 25 per cent and eggs go up 35 per cent. It's not just a sense of despair at mortgages being up 57 per cent or rents up 32 per cent. It's not just a sense of despair that transport costs are up 17 per cent. In the budget on Tuesday, the Treasurer stood there and handed down a budget that showed, for the very first time, that Commonwealth debt is forecast to go beyond $1 trillion. When you look at that clock, I have 90 seconds and it's ticking. In just about every second the Commonwealth will owe $1,000 in interest on debt. This Treasurer and this Prime Minister had no plan to address it.

The sense of despair is particularly acute in Victoria, because, if you want to know what a second term Labor government looks like here, look to the third term of the state Labor government in Victoria. It has got the highest debt, the highest taxes, the most rubbish and the most graffiti. It is a state in despair. I take no pride in saying that. When you look at household incomes in Victoria, they are at 2014 levels. If you want to know what the next term of this government looks like, look to Victoria. It's not pretty.