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

Thank you, Mr President. I was asked about debt, and I would make this point: Australia's public finances are extraordinarily strong by international standards. Net debt for us in the next financial year peaks at 7.2 per cent of GDP. Compare this to in excess of 85 per cent of GDP for the US in the same year or in excess of 73 per cent of GDP for the United Kingdom in the same year. But what is more important is this: the opposition cannot vote against these measures and still have the rhetoric. They cannot have it both ways. (Time expired)