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

I suggest the senator read the budget papers. He might then get some understanding of what the same people who advised Mr Costello are advising this government—about the hit on revenues as a result of the combination of a persistently high dollar and falling terms of trade and the squeeze that is putting on profits. But, if the senator wants to talk about debt, perhaps he should look at Australia's position compared to the rest of the world. Perhaps he can then look at what Mr Howard said—that our debt to GDP ratio, the amount of money we owe in relation to the strength of our economy, is still a lot better than that of most other countries. Perhaps he should talk to Mr Howard, who might explain to him the real position when it comes to Australia's public finances. (Time expired)