Mr SWAN (Lilley—Deputy Prime Minister and Treasurer) (14:10): I thank the shadow Treasurer for that question, because this government makes no apology for putting jobs and growth first. We have got the employment figures out today. There have been 850,000 jobs created in this country under this government. That has happened under the most difficult of circumstances—a global financial crisis and then, at the end of last year, another bout of global volatility. In the second part of year, we saw Europe go into recession, we saw a question mark about Chinese growth and we saw slight growth in the United States. In those circumstances, the performance here in the Australian economy, unlike other developed economies, has been second to none—850,000 jobs. The Leader of the Opposition was asking before about cost of living. Let me tell you this. When it comes to cost of living, the most fundamental thing that a family needs is a job. Those opposite do not get that connection between living standards and jobs, because, if they did get that connection between living standards and jobs, they would not put forward the absurd proposition that right now we should be cutting economic growth and cutting jobs, and they most certainly would not be putting forward the fact that they, in their budget strategy, have to cut the budget by a further $70 billion. That would hit growth and it would hit jobs. Mr Hockey: Madam Speaker, I rise on a point of order. The question was about the honesty and integrity of the Treasurer's word. Given that 160,000 jobs have been created in 21 months, how is he going to deliver an extra 70,000 jobs a month to meet that promise from the budget? The SPEAKER: The shadow Treasurer and member for North Sydney will resume his seat. The Treasurer has the call. Mr SWAN: Putting forward the proposition in the way that he has, he is making the Tea Party look rational! The facts are these. When conditions in the global economy change, so too do responsible governments, and this government, at the end of last year, made the judgement that to cut further in the budget would hit growth and it would hit jobs. Because our No. 1 priority is economic growth and jobs, we are not going to go through and cut as they propose. That is what they are proposing: that you do not change in response to global economic conditions—you just continue going down the same road—which is why they are such a danger to our economy, because their proposal now is to cut $70 billion, at least, from the budget. If you are going to take their propositions logically, that is what the shadow Treasurer is saying. That would mean a Newman-style attack on health and education in the Australian economy. Mr Dutton: How is this relevant? The SPEAKER: The Treasurer will return to the question. Mr SWAN: That would push up unemployment in our community dramatically. That is the type of fiscal policy which is being put forward by the opposition. (Time expired)