Barnaby Joyce (Queensland, National Party, Shadow Minister for Finance and Debt Reduction) Share this | Link to this | Hansard source

My question is to the Minister representing the Minister for Finance and Deregulation, Senator Conroy. How much of the stimulus package, in dollar terms, is currently unspent?

Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Link to this | Hansard source

I understand it is around half, but I am happy to come back if I have inadvertently misled you, Senator Joyce.

Barnaby Joyce (Queensland, National Party, Shadow Minister for Finance and Debt Reduction) Share this | Link to this | Hansard source

Mr President, I ask a supplementary question. I thank the minister for his incredibly concise answer to that question. Like Mr Tanner, the minister is unable to give a straight and decisive answer to this question. Can the minister advise how the Labor Party intends to reduce debt, seeing that it cannot find savings?

Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Link to this | Hansard source

A quick bit of maths to help Senator Joyce: half of 42 is 21. I think that stands up. I understand that Mr Tanner indicated that just recently. So I am happy to remain as concise as I was in the previous answer.

Barnaby Joyce (Queensland, National Party, Shadow Minister for Finance and Debt Reduction) Share this | Link to this | Hansard source

Mr President, I ask a further supplementary question. Is the minister now saying that the amount unspent, the number you have given, is $21 billion? And, if you cannot be decisive in that answer, how can we take anything you say with regard to costing as credible?

Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Link to this | Hansard source

I think if you subtract 21 from 42 you get 21 as well, Senator Joyce—just to help. Let me be very clear. As I said, if that number varies slightly I am happy to come back to give you an update and to correct any misapprehension. As you would know, the first phase of the stimulus—the cash payments—has all been spent. We are in the process of and work is underway on medium- and long-term infrastructure. At the end of November 2009: 64 per cent of major building construction projects had commenced, almost 6,000 projects had been completed, 93 per cent of funds for infrastructure projects had been approved and 31 per cent had been paid, two science and language centres had been completed in New South Wales and Queensland and another 109 centres commenced on-site construction. Also, 607 school projects had been completed at the end of 2009 and around $3.7 billion had been paid across the Building the Education Revolution program. (Time expired)