Nick Sherry (Tasmania, Australian Labor Party, Minister Assisting the Minister for Tourism) Share this | Hansard source

Well, Mr Hockey has confessed. That is what they have to find. They have to find $70 billion. Fortunately, due to this Labor government and their effective economic management, we have—and the IMF acknowledged this—one of the lowest levels of government debt amongst all advanced economies. But to add to the problems, to add to the risk to the Australian economy, the Liberal-National Party have pledged to reverse the carbon tax. But as a consequence they are going to have to reduce age pensions. They are going to have to increase income taxes. If they ever get the chance and they want to give that $11 million in mining tax back to the mining companies, which actually want to pay, they are going to have to increase the contributions tax on superannuation of $3½ million. (Time expired)