Mr BURKE - 2001-11-27
On top of the increase in deficit to $126m, the uniform presentation for the total public sector contained in Budget Paper No 3, table 6.1, shows net domestic and overseas borrowings rising from a figure of $62m in the May budget to $162m under your mini-budget. Treasurer, as an Opposition Leader - when you occupied that position - who railed against the increase in debt, I thought your government was getting debt under control?
ANSWER
Madam Speaker, deficit reduction strategy is what we are all about here. I know the previous administration had absolutely no concept of deficit reduction strategy, but this is what it is about. On one hand, we have the Leader of the Opposition saying: ‘Spend, spend, spend’. ‘Spend, spend, spend’, on one hand. We know the Territory …
Mr Burke interjecting.
Ms MARTIN: The example of your hypocrisy is the fact that you left the capital works budget with no funds in road repairs or minor new works. You left capital works areas without funds. We know there are more dollars out there in the capital works area than before, with the major projects, but no funds in those areas to support our smaller contractors - none at all.
We have done the balancing. We have found the funds in that very important area. I do not mind saying in here, yes, we have to spend. I know where the money is coming from and I know where the deficit reduction strategy is leading us. Unlike the previous administration who just spent and then lied about it. They spent and they lied about it.
We are honest with our figures. We have a debt reduction strategy. We will be back in a surplus by 2004-05. The question, I think, demonstrates that the Leader of the Opposition simply does not understand Treasury.
ANSWER
Madam Speaker, deficit reduction strategy is what we are all about here. I know the previous administration had absolutely no concept of deficit reduction strategy, but this is what it is about. On one hand, we have the Leader of the Opposition saying: ‘Spend, spend, spend’. ‘Spend, spend, spend’, on one hand. We know the Territory …
Mr Burke interjecting.
Ms MARTIN: The example of your hypocrisy is the fact that you left the capital works budget with no funds in road repairs or minor new works. You left capital works areas without funds. We know there are more dollars out there in the capital works area than before, with the major projects, but no funds in those areas to support our smaller contractors - none at all.
We have done the balancing. We have found the funds in that very important area. I do not mind saying in here, yes, we have to spend. I know where the money is coming from and I know where the deficit reduction strategy is leading us. Unlike the previous administration who just spent and then lied about it. They spent and they lied about it.
We are honest with our figures. We have a debt reduction strategy. We will be back in a surplus by 2004-05. The question, I think, demonstrates that the Leader of the Opposition simply does not understand Treasury.
Last updated: 09 Aug 2016