Peter Whish-Wilson (Tasmania, Australian Greens) Share this | Hansard source

Senator Back, I know you know Tasmania very well. We are talking about fifty-year investments that can be monetised and securitised—these debts can be repaid. But the problem is there is no finance available. The private sector does not want to invest in projects that size. If we bundle these together and government steps up and plays an active role in the lives of Australians, it will be a positive thing. This is what Australians want to see from their leaders in a place like this. They want to see us making decisions. They want to see some vision. They want to see a bit of courage.

Let us deal with the most important part of the response to my question today. Senator Cormann admitted that there is good debt and bad debt. S&P—Standard and Poor's for your interpretation, Senator Williams—said last night that there is such a thing as good debt and bad debt. It is good debt that invests in long-term productive infrastructure. They said this government should be investing in infrastructure now. That was from Standard and Poor's, who determine our credit ratings. The only reason we are not doing that is the political spin and political rhetoric that somehow debt is bad and that in this country there is a massive moral obligation to reduce that debt and deficit. The massive moral obligation we have is to make sure we do not underinvest in future generations of Australians. The Greens will lead on this issue till we see some common sense. (Time expired)

Question agreed to.