John Williams (NSW, National Party) Share this | Hansard source

I would like to make a few comments on Senator Stephens's presentation to the Senate, referring to Ireland. The last thing I would ever do would be to attack Senator Stephens—because of my respect for the lady. Being a lady from out of Cessnock, it is a pity she never joined the National Party when she became political! But seriously, I do respect Senator Stephens and I am not going to go into any sort of personal attack on what she said, but she mentioned Ireland.

I was with Senator Stephens a few months ago when we met with some of the Irish politicians. Ireland has a population of 4½ million, and they owe $120 billion. They took it out of the debts of their bank. But I want to take you to Queensland. Queensland also has 4½ million people, and they have a debt of $72 billion—and going up, heading towards Ireland's level of debt. How did Queensland get that debt? They got that debt from years of Labor government.

People have been critical of the Campbell Newman Liberal-National Party government in Queensland for tightening the belt and reining in the spending. The other option is: go down the road of Ireland. As I said, they have the same population. Queensland has 4½ million people; Ireland has 4½ million people. Ireland has $120 billion of debt and Queensland is on $72 billion and has been forecast, under the previous government, to go to $85 billion by 2015, and some $100 billion by around 2020. It is getting to the same parallel financial mess as Ireland. Luckily there is a new government there that realises that managing money is important, but that is a tough job they are facing. Just like in New South Wales, when the O'Farrell-Stoner coalition government was elected on 26 March 2011. Guess what? In the year's budget: a $5 billion black hole. What's new?

Let us look at Senator Fifield's motion—'the Gillard government's fiscal strategy'—which is a very important motion of general business here today. Yesterday, Senator Cormann and I moved a motion in the Senate calling on the final budget outcome to be released before election day, 14 September. The ALP government and the Greens voted it down. Why did they vote it down? Why do they not want to let the Australian people know how much money they will borrow this financial year, which of course concludes on 30 June like any other financial year? Over the last five years, the final budget outcome has been released between 24 and 30 September. This year will be no different. The budget outcome of this financial year will be released after the election. I wonder why they chose the date of 14 September? So that the election can be held before the final budget outcome is known—the facts, the truths of this year's budget from which we were going to have a surplus. On more than 400 occasions the Prime Minister, Ms Gillard, and the Treasurer, Mr Swan, have said, 'There will be a budget surplus'. But hang on, the Christmas break comes along, 'Sorry, the budget surplus has been dumped. There will be no budget surplus; there will be another debt.'

I wonder how much debt? We will get a bit of an indication in the May budget this year when Treasurer Swan delivers it. He might say this year that there is not going to be a $1½ billion surplus like he said in the MYEFO back in November. It will be about a $4 billion deficit; that is what he will say. He will make his forecast for the next financial year and that will be another figure probably in the red. He might tone it down a bit—$1 billion or $2 billion in the red—but borrowing more money. However, you wait until we get that final budget outcome towards the end of September. It will be greater than the $4 billion or whatever Mr Swan says. There is nothing surer than that because the government will go on a borrowing and spending spree. We will only be able to monitor the Australian Office of Financial Management's website to see where the gross debt is going.

The government will borrow money to buy votes—that is exactly what they will do. As sure as I stand here, the figure forecast for this year's budget deficit in May will be higher come September when we get the real figures. They will borrow money to buy votes. That is all the Labor Party knows—debt, debt and more debt. Remember when Ms Gillard was made Prime Minister, and the new transparent government she would lead? Where is the transparency when you are hiding the budget figures? Why did you not support Senator Cormann's and my motion yesterday? What have you got to hide?

We know the Greens will back you up in hiding the budget figures, because the Greens never, ever look at budgets. They are a closed shop. They will not let the media in to their conferences. When it comes to managing money, the Greens are probably worse than the Australian Labor Party. Spend, spend, borrow, borrow, penalise success and reward failure—that is the attitude of the socialists in this place. That is what will happen and that is what we will see more of. Penalise success, penalise effort, penalise hard work and reward failure—that is what socialism is about, and this nation was built on what? Hard work, hard sweat and effort. Go back to the first export of our nation, wool.

Senator Fifield interjecting—

Senator Ludwig interjecting—