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

Thank you very much, Mr President. Again, the chutzpah! At the time of the last election we had Labor locking Australia into a spending growth trajectory, particularly in the period beyond the published forward estimates, which we are working to bring back. Yet here they are saying that we are spending too much. Well, help us to pass some of the savings that you are blocking. Let me say to you, very slowly: over the forward estimates spending as a share of GDP is forecast to come down, over time, from 25.9 per cent to about 25.3 per cent at the end of the forward estimates. Government net debt is expected to peak next year before it comes down as a share of GDP. That is as a result of the efforts that we have made, not helped by the Labor Party. When we have been working to fix your mess, you have been boycotting us every step of the way.