Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

Firstly, Senator Leyonhjelm is absolutely right: we are totally focused on dealing with the debt and deficit disaster that we have inherited from the previous government, because we believe that we have a responsibility to our children and grandchildren to leave our country in a stronger and better position than we found it in and with better prospects. The previous government, having inherited a very strong fiscal position, having inherited a position with no government net debt—a $20 billion surplus, money in the bank, more than $1 billion—