Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

That is another very good question from Senator Bernardi. When we were elected to government in September we inherited an economy growing below trend, we inherited rising unemployment, we inherited low consumer confidence, we inherited business investment which had plateaued, we inherited a debt and deficit disaster and we inherited a spending growth trajectory which was unsustainable. We must turn that situation around because, if we want to protect our living standards, if we want to build opportunity and prosperity for the future and if we want to grow a stronger economy, we have to get rid of the carbon tax and the mining tax and we have to get our budget under control. Why do we need to get our budget under control? This is a very important point for people to consider. Do you think that any parent around Australia would want to put their hand into their children's pocket to pay their credit card for them? Do you think that any parent in Australia would ask their children to pay off their credit card bill? Of course they would not. And neither should the Australian government. We should not be expecting our children and grandchildren to pay our bills. (Time expired)