John Williams (NSW, National Party) Share this | Hansard source

and so would Senator Bushby. Those opposite voted for it. They said we were never going to have it, but the Greens were dominating their whole government policy. And of course they want to forget that. It was about $9 billion, growing each year, that carbon tax. Thank goodness it has gone.

Here is the thing I find amazing when we talk about policies. I want to refer to two things. Mr Deputy President Marshall, I do not know how you drive your car—and I am sure you are a very good driver of your motor vehicle—but one thing is for sure: I am sure you do not have one foot pushing down on the accelerator and one foot pushing down on the brake, both at the same time. That would be strange. But I remember that, back in 2009, the Reserve Bank was raising interest rates to slow the economy, while the Labor Party in government was borrowing money and spending it to stimulate the economy. How crazy is that! And what are we left with? We are left with this great big debt. And it is getting very serious.

Mr Deputy President, you would be well aware that a man I respect enormously, Mr Glenn Stevens, the Reserve Bank governor, addressed cabinet just recently and said: 'You are facing serious financial problems.' And he is correct. We are borrowing $110 million a day and spending some $40 million a day to pay the interest.