Eric Abetz (Tasmania, Liberal Party, Minister for Employment) Share this | Hansard source

Senators would be aware that each and every day we fail to consider vital legislation Australia's national gross debt will continue to rise to $667 billion. The government is taking decisive steps to insulate the Australian economy by improving our budget bottom line from external shocks.

Secretary of the Treasury, Dr Martin Parkinson, has warned that:

… unless we tackle structural reform, including fixing our fundamental budget problem, we will not be able to guarantee rising income and living standards for Australians.

Whichever measures this Senate may agree to and whatever form they may take, all that we as a government are asking is for senators to fully consider how we can relieve future generations of Australians from a growing debt burden. If we shirk the hard decisions today, our children will suffer the consequences tomorrow. (Time expired)