Economy

The majority voted against letting a vote happen. In parliamentary jargon, they voted against suspending standing orders (the procedural rules of Parliament) so that Labor MP Chris Bowen could move a particular motion. Since this vote was unsuccessful, Mr Bowen was not able to proceed with his motion.

Motion text

That so much of the standing orders be suspended as would prevent the Member for McMahon from moving the following motion forthwith—That the House:

(1) notes:

(a) before coming to office, the Coalition railed about a debt and deficit disaster;

(b) global economic conditions are the best they've been in years, with the International Monetary Fund stating "120 economies, accounting for three quarters of world GDP, have seen a pickup in growth in year-on-year terms in 2017, the broadest synchronized global growth upsurge since 2010";

(c) since this conservative Government came to office gross debt has increased to a record half a trillion dollars and is expected to be even higher in tonight's Budget with no peak in sight;

(d) net debt has doubled and is growing as a proportion of the economy more rapidly than almost every other advanced economy; and

(e) last night on 7.30, former Howard Government Treasurer, Peter Costello, said that he would be dead before the Government paid back its debt; and

(2) therefore, condemns this conservative Government for giving up on Budget repair and for its failure to address the long-term structural problems in the Budget.