Mark Bishop (WA, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister for Finance and Deregulation.

Opposition Senators:

Opposition senators interjecting—

John Hogg (President) Share this | Link to this | Hansard source

Order on my left! It is proper to show the courtesy that a questioner deserves by remaining silent.

Opposition senators interjecting—

I remind those on my left of the courtesies that should be displayed. Senator Bishop.

Mark Bishop (WA, Australian Labor Party) Share this | Link to this | Hansard source

Thank you, Mr President. My question is to the Minister for Finance and Deregulation, Senator Wong. Can the minister outline to the Senate what steps the government is taking to enhance the capacity of the Parliamentary Budget Office to assist parties with costing of their policies? Why is it important to take action to improve the ability of parties to properly cost policies?

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

The first and simple answer to that question is that fiscal policy is an important part of good economic management. We saw today—

Senator Abetz interjecting—

I am sure Senator Abetz is one of the few people in the country who are not happy about this, but we saw today unemployment figures come out which showed that 926,000 jobs have been created since the Labor government came to office in 2007 and, as pleasingly, also an increase—

Eric Abetz (Tasmania, Liberal Party, Shadow Minister for Employment and Workplace Relations) Share this | Link to this | Hansard source

And what was your promise?

John Hogg (President) Share this | Link to this | Hansard source

Order! I remind those on my left that silence should persist during the answer of the minister.

Eric Abetz (Tasmania, Liberal Party, Shadow Minister for Employment and Workplace Relations) Share this | Link to this | Hansard source

What was your promise?

John Hogg (President) Share this | Link to this | Hansard source

Order! I just said silence should be there for the minister's answer. The minister.

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

Thank you, Mr President. As pleasingly, the participation rate also increased.

Opposition senators interjecting—

John Hogg (President) Share this | Link to this | Hansard source

Senator Wong, resume your seat. If you insist on interjecting then I will insist on pulling up the business of the Senate. Being disorderly is completely unacceptable. The minister.

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

Thank you, Mr President. Isn't it interesting how the coalition do not like good economic outcomes? They do not like good jobs figures for Australians. Here they are bleating and interjecting because they do not want to talk about 926,000 jobs.

Opposition senators interjecting—

John Hogg (President) Share this | Link to this | Hansard source

Senator Wong, just resume your seat.

Opposition senators interjecting—

Order! The minister.

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

Thank you, Mr President. I am asked about the Parliamentary Budget Office and why it is important that the government take action to help the ability of parties to properly cost policies. The very simple answer is: Joe Hockey needs some help.

John Hogg (President) Share this | Link to this | Hansard source

You need to refer to—

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

Mr Hockey needs some help.

John Hogg (President) Share this | Link to this | Hansard source

Thank you.

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

Mr Hockey needs a lot of help when it comes to his fiscal position. What do we see at the moment? Mr Hockey, who went to London and beat his chest—he is into the chest beating—and said:

The Age of Entitlement is over.

And he said:

We need to keep our pencils sharpened when it comes to entitlements.

Ah, them's fighting words! We now find out that, despite his position, he gets rolled in the shadow ministry by Mr Kevin Andrews. The big tough Joe Hockey gets rolled by Mr Kevin Andrews.

John Hogg (President) Share this | Link to this | Hansard source

Order! You need to refer to people by the right title.

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

Mr Hockey gets rolled by Mr Andrews. Someone put it very well—it might have been the Treasurer: 'If you get rolled by the member for Menzies you've really got a problem!' So the simple answer is that when it comes to— (Time expired)

Honourable senators interjecting—

John Hogg (President) Share this | Link to this | Hansard source

When the interjections, which are disorderly, have ceased we will continue question time.

Mark Bishop (WA, Australian Labor Party) Share this | Link to this | Hansard source

Mr President, I have a supplementary question. Can the minister explain any other steps the government is taking to promote transparency around costings prior to elections and how will the proposed process differ from what we have seen at previous elections?

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

The key difference is we do not want Mr Hockey and Mr Abbott to seek to con the Australian people like they tried to do on the last occasion, when they refused to release their policies, they refused to release their costings and then after the elections, as a result of the parliament being in the position it was, their policies were actually audited in a post-election report. And what did we see? We saw an $11 billion black hole in their costings. In fact, what is very interesting is that the economic team that is currently part of the coalition frontbench—that is the one that does not appear to be able to get its position through at shadow cabinet—have actually never once got their costings right, not in the election and certainly not when they have used a catering company to do their costings. What the government is doing is ensuring that this sort of con job cannot occur again. (Time expired)

Mark Bishop (WA, Australian Labor Party) Share this | Link to this | Hansard source

Mr President, I have a further supplementary question to the minister. Under the government's proposals, what options exist for parties who wish to have their policies independently costed, and how does this contrast with the situation before the introduction of the PBO?

Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

The Parliamentary Budget Office is a costing service that has never been available to any other opposition, so I would suggest that Mr Hockey may wish to avail himself of it. But as important is transparency. We on this side are determined that the sort of attempted con job that was put up last time to the Australian people by Mr Abbott and Mr Hockey cannot occur again, which is why we are saying there will be a post-election report, some 30 days after the election, which shows the true state of the budget as a result of a political party's commitments. What those opposite would like to be reminded of is that on the last occasion that would have shown the $11 billion black hole, and I say to the opposition: be aware that if you try and con people you will be found out. We on this side believe in transparency when it comes to budget costings. (Time expired)