Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

I thank Senator Wortley for the question. The fact is that those on this side understand the need for budget discipline. Those on the other side are led by a man who is a risk to the Australian economy and a risk to the budget surplus. The fact is that the economic and fiscal circumstances in which the nation finds itself do require the sort of fiscal discipline the government is demon­strating. We are moving, in this economy, from a period of short-term softness as a result of the patchwork economy, the high dollar and natural disasters—all of which the opposition wish to ignore—to a period of long-term strength as the mining boom gathers pace. The budget we presented to this parliament recognises this. It puts in place strict spending discipline and builds surpluses in the years ahead so that government does not compound price press­ures in the economy.

The issue is that those on the other side like to talk about budget discipline and they like to talk about surpluses. There is a lot of talk. But, to deliver a surplus, you have to ensure you put in place savings measures. Those on that side, who like to pretend they are fiscal conservatives, should explain to the Australian people—