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

Unlike those opposite, we have actually had to get on with the hard task of identifying savings, including to offset revenue downgrades, and we have done so.

Senator Abetz interjecting—

I will take the interjection from Senator Abetz because, as usual, he does not know what he is talking about. I remind him again: we are a lower-spending government than you were and we are a lower-taxing government. I know you do not understand statistics, but over the forward estimate period spend as a share of GDP is below or at 24 per cent of GDP. The last time that was achieved was the 1980s. And we tax less than you.

Those opposite seem to have forgotten there was a thing called the global financial crisis; and, had they been in charge of the place, we know what would have happened: massive unemployment and a recession because they do not like the fact that we engaged in a stimulus package. (Time expired)