Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Hansard source

The government will legislate to increase Commonwealth government securities broadly equivalent to the deficits over the forward estimates. The Australian government has a AAA credit rating and our treasury bonds are of high quality and attractive to investors. The advice we have from Treasury is that we will be able to raise sufficient funds to finance the deficits as conditions stand. The government will need to borrow around $125 billion over the forward estimates. This comprises borrowings to finance deficits of around $118 billion and with the remaining amount required to meet the remaining financial requirements such as the commercial property and SPV. Let me be clear. Those opposite who want to keep playing this game can look Australians in the face and explain why they put those— (Time expired)