Mr HOCKEY (North Sydney—The Treasurer) (14:28): For a start, the honourable member for Sydney is getting it wrong. It is a payment for a service. It is the very same payment for a service in relation to GPs— Opposition members interjecting— The SPEAKER: There will be silence on my left! The opposition has asked its question and it will listen to the answer. Mr HOCKEY: It is the very same payment for service that the Labor Party actually advocated for and voted for and legislated in this place when the Labor Party actually had principles—when the Labor Party believed in the things that matter. I think Paul Keating said—absolutely right—in relation to the co-payment on the PBS: 'If we want to maintain the quality of service of the PBS, if we want the Pharmaceutical Benefits Scheme to be sustainable into the future, we need to make contributions now.' I say to the Labor Party and the Australian people: if we want Medicare to deliver all that we expect into the future, we need to make a contribution now. We need to make a contribution now to ensure that the system is sustainable in the future. And why? Because the Labor Party left a legacy of debt and deficit as far as the eye could see. And of course someone has to fix the mess, and we are determined to do it. We will not engage in intergenerational theft when it comes to the treatment of the budget. Ms Owens interjecting— The SPEAKER: The member for Parramatta is warned. Mr HOCKEY: We will not allow a billion dollars of interest per month to have to be paid now in order to address the legacy of debt left by Labor. We will not allow it to grow to $3 billion a month in interest in 10 years as a result of the reckless spending initiatives of the Labor Party. We will not burden every single Australian in 10 years time with a debt of $25,000 per person if Labor's spending initiatives remain unchecked. We are determined to fix the budget. We are asking Australians to make a contribution along the way. If we make a contribution now then the pain in the future associated with fixing the mess will be less. But, if we do not take action now, the pain in the future for everyday Australians will be far greater.