David Leyonhjelm (NSW, Liberal Democratic Party) Share this | Hansard source

My question is to the Minister for Finance, Senator Cormann. In 2009, you referred to the 'socialism we had to have' under Gough Whitlam, who thought he could 'spend his way out of trouble' and 'went to great lengths to borrow more and more money'. I agree. After three years, Whitlam left Australia with a deficit of $1½ billion, government spending at 24 per cent of GDP and tax receipts at 20 per cent. Your government, after three years, has left Australia with a deficit of $37 million, government spending at 25 per cent of GDP and tax receipts at 22 per cent. Whitlam left no debt. Net debt is now $317 billion. Are you more socialist than Whitlam?