Mark Arbib (NSW, Australian Labor Party, Minister Assisting the Prime Minister for Government Service Delivery) Share this | Hansard source

I am pleased to bring the second reading debate on the Appropriation Bill (No. 1) 2009-2010 and cognate bills to a close. Senator Ryan is certainly trying to crank up a scare campaign. The government is working to support the economy through the global recession. The government’s fiscal stimulus program started with supporting household consumption and then moved to small-scale investments that could be implemented within a relatively short time frame. This budget marks the start of the next phase of moving to larger and longer term nation-building infrastructure projects. The budget contains a significant infrastructure package: $22 billion over six years to improve the quality, adequacy and efficiency of transport, communications, energy, education and health infrastructure across Australia.

It is necessary to inject some balance and perspective into the debate concerning the government’s budget position. Australia’s balance sheet is strong and will continue to be one of the strongest in the world. After peaking at 13.8 per cent of GDP in 2013-14, net debt is expected to fall to 3.7 per cent of GDP by 2019-20. In comparison, average net debt in advanced economies will continue to rise to a substantial 80.6 per cent in 2014. The government’s firm commitment to return the budget to surplus will ensure that fiscal sustainability is maintained. Meeting the commitment will involve further tough choices, but it is important because fiscal sustainability remains one of the key ingredients for sustainable economic growth.

Unfortunately, we cannot accept the amendment of the Greens. The matter was the subject of correspondence between the previous government, the then President of the Senate and the Standing Committee on Appropriations and Staffing. However, no changes to the compact were agreed.

To conclude, the government’s approach seeks to support the economy and to protect jobs. It does so by making substantial investments in worthwhile infrastructure. It is therefore a budget for all Australians and for future generations of Australians. I commend Appropriation Bill (No. 1) 2009-2010 and the cognate bills to the Senate.

Question put:

That the amendment (Senator Bob Brown’s) be agreed to.