Nick Sherry (Tasmania, Australian Labor Party, Minister for Superannuation and Corporate Law) Share this | Hansard source

I am just going to get to some remarks by Senator Minchin. Senator Minchin is laughing, of course. A former finance minister in the Liberal government is laughing. I want to go to some comments by Senator Minchin yesterday. Yesterday Senator Minchin asked a question about what difference—and he is shrugging his shoulders—$1.5 billion makes to the budget. He said:

How on earth can a reduction in the surplus from $21.5 billion to $20 billion possibly be described as ‘vandalising the surplus’?

Senator Minchin has lost all connection with reality and fiscal responsibility, if indeed he ever had any. He certainly had it at the beginning of his period as finance minister but it very quickly evaporated in the latter part of his period as finance minister. Senator Minchin, $1.5 billion is a considerable sum of money and a considerable part of the budget surplus that we believe is necessary to contribute to a substantial budget surplus, given the current economic circumstances we face.