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

Australia today is sadly less resilient than we should have been and could have been if it had not been for Labor's waste and mismanagement of the budget in government. Under Labor, our terms of trade were the best in 140 years. Under Labor, the price we are able to get for our commodities was the best in 140 years. All those opportunities were squandered. But what Labor did do was lock us into expenditure and expenditure growth into the future well beyond what our nation could afford. Of course, Labor is still at it. Not only is Labor opposing $28 billion in savings over the forward estimates, but we know that Labor wants to bring back another $15 billion in spending that is completely unfunded. At the same time Bill Shorten says he is going to bring the budget back to surplus more quickly. So Labor is going to spend another $7.6 million on foreign aid and is going to bring back the Schoolkids Bonus and the low-income super contribution. Show us where the money is coming from. (Time expired)

Senator Conroy interjecting—