Sean Edwards (SA, Liberal Party) Share this | Hansard source

It is very nice of Senator Conroy to join us. Let us get to him. Ours is an approach to defence based on sound economic principles, on value for money, on economic accountability and on the responsible expenditure of public money. Our approach to defence acquisitions is no different. The coalition government is committed to a viable shipbuilding industry that provides value for money while adhering to world's best practice. Decisions in this space are made on the basis of the needs of the services and the responsible expenditure of taxpayers' money—there is no back-of-the-serviette or Coke-drink coaster accounting anywhere in our budget costing rooms, through you Mr Acting Deputy President to Senator Conroy.

Those opposite would have us embark on a procurement path that gives little consideration to our financial responsibilities, little consideration to fiscal prudence, little consideration to balancing the books, and little consideration to the fact that we are spending other people's money. They are called the 'taxpayer'—the people out there in Australia who elected this government on 7 September last year to restore confidence in this economy. Labor's reckless approach to spending in the Defence portfolio is not an example in isolation. It is a part of their rich heritage of fiscal recklessness and their rich tapestry of economic vandalism—with the notable exceptions of Prime Minister Hawke and Prime Minister Keating, since they achieved some reasonable reforms. There was a lone voice in the last government, Mr Martin Ferguson's. He was obviously outgunned by his socialist colleagues, the spendthrifts over on the other side. He left parliament, sadly, and is now working with industry, where he enjoys a great deal of respect. But then there is the current opposition defence spokesperson, who is with us here in the chamber, Senator Conroy, whose most notable contribution to policy making has been that back-of-the-napkin episode.

I remind the chamber, as if it needs reminding, that as the Labor communications minister, Senator Conroy committed the country to a $43 billion policy that was the NBN. This $43 billion policy commitment was devoid of any cost-benefit analysis.

Senator Conroy interjecting—

Senator Conroy, you may laugh about it but $43 billion is a lot of hot dinners. You might think it is not a lot and you may treat it in a very cavalier way, but it does not have a business case at all. It would have blown out to $73 billion, if the coalition had not been elected to repair the damage.