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

I thank Senator Bushby for that question. Earlier this week the government delivered our next instalment in our responsible, long-term, economic plan to strengthen growth, to strengthen job creation and to get the budget back into surplus. Of course it is in the national interest for the Labor Party to support the measures that we have put forward for stronger growth, more jobs and a budget that gets back to surplus on a credible pathway.

Tonight, Mr Shorten will have the opportunity to stand up for the national interest. Tonight, Mr Shorten will have the opportunity to show that he has what it takes to make the necessary decisions in the national interest. Tonight, he will have the opportunity to explain how he is going to pay for Labor's $52 billion budget black hole. You, the Labor Party, are asking us questions about our spending growth trajectory which is much lower than yours. Guess what? Right now, Labor is opposing $17 billion in savings and revenue measures put forward by this government. Right now, Labor is opposing $6.5 billion in savings and revenue measures that Labor, themselves, initiated, and they are calling for the restoration of more than $31 billion in spending from savings the government has already banked, including $18 billion in foreign aid. That is Labor economics; that is the Labor magic pudding. You might ask: how many alternative savings measures has the Labor Party identified? How many alternative savings measures has Mr Shorten identified? Let me tell you, Mr President—zero. There is $55.8 billion in expenditure and not a single savings measure.