Zed Seselja (ACT, Liberal Party) Share this | Hansard source

I look forward to the very honourable Senator Paterson coming after me and doing an outstanding job. Labor are going to find as they pursue these lines—be it on higher education, education, health or other policies—that they fundamentally have no credibility. If we want an example of why they have no credibility and why they cannot be trusted on money, we saw it yesterday with the unravelling of the fundamentals of their campaign, with the $19 billion hole in their costings. This is no ordinary hole in costings. We have seen holes in costings from the Labor Party before. This is no ordinary hole because this $19 billion hole is fundamental to their entire campaign, which is about $100 billion of new taxes, extra taxes, and tax increases so they can apparently spend money in health, education and various areas. Those are the fundamentals of their campaign and last night we saw that campaign blown out of the water.

Margaret Thatcher famously said that the problem with socialism is that eventually you run out of other people's money. Never have we seen before an opposition leader who has run out of other people's money before coming into office. That is what we saw yesterday. The Labor Party has already run out of money. We knew it was pie in the sky. We had these claims.