Mr SWAN (Lilley—Deputy Prime Minister and Treasurer) (14:19): I really do thank the member for that question. I think it was a flick pass from Joe, because he said in the question that it was unstated in the budget papers that we were going to lift the borrowing limit. Those opposite had six hours in the budget lock-up to read the budget papers. It is very clear that after that six hours they were incapable of absorbing even the most basic information, because our intention to lift the borrowing limit has been flagged for a long time. It has been known in markets and it is there very clearly in the budget papers. Indeed, it is in budget statement 7 at page 18, but they could not find that. They could not read the budget papers. It was also in Budget Paper No. 4 at page 11, but after six hours they could not see it there. Despite the fact that it has been flagged , despite the fact that it has been talked about in markets, they then missed something else, because the Assistant Treasurer came into the House and announced it. He announced it in this House, following the budget speech, to everybody in the House and to everybody listening. He did it in the appropriate place; he did it in the appropriation bills. Despite all of that in here, in the bright lights, in the people's House, in the parliament, they even missed that. Then it went another 48 hours before they suddenly realised that we were increasing the borrowing limit. That just shows how incompetent, how out of touch, they have become. Government members interjecting— Mr SWAN: I am asked why. All of the reasons have been detailed in the budget speech and in the budget papers. I know that they do not do a lot of work, I know that they are pretty lazy and I know that they are pretty sloppy, but to make this sort of allegation they must have slept all the way through the global financial crisis and the natural disasters earlier this year, because what we have detailed and have been talking about for weeks and weeks is the impact of the natural disasters on the budget bottom line and the additional impacts of the global financial crisis and the global recession. Mr Pyne: Mr Speaker, I raise a point of order. We have given the Treasurer three out of four minutes to detail where in the budget speech this blow-out in debt is contained. I thought that he was going to try to point to that. He has not mentioned anything to do with that so he could not possibly be relevant. I ask you to bring him back to answer the question. The SPEAKER: At this point in time of interruption, the Treasurer is responding to the second part of the question directly. The Treasurer has the call, and I remind him that he should refer to members by their parliamentary titles accurately. Mr SWAN: There is nothing unusual about the government lifting the borrowing limit, nothing at all. I am going to cite an unusual authority who is backing us up on this. I am going to cite Senator Barnaby Joyce, who has already backed lifting the borrowing limit. It is just common sense. We are bringing our budget back into the black in 2012-13. We will pay down debt and we will also have a conversation with the Australian community, the parliament and the financial markets about what we will do in terms of a deep and liquid bond market. These are all questions associated with this very important part of economic management. There is nothing new about it. It has been known for ages. It was flagged in the mid-term review, it was in all the budget papers on budget night and it was announced to the House by the Assistant Treasurer, but those people opposite are so incompetent they know nothing about it. Mr HOCKEY: This is a supplementary question to the Treasurer and it follows on from his answer. What is the average interest rate that the government expects to pay on that debt? The SPEAKER: I am sorry. I have given the call incorrectly to the member for North Sydney. Mr Hockey interjecting— The SPEAKER: No. The original question was from the Leader of the Nationals. I have indicated previously that I would give the call to the questioner if it was not the Leader of the Opposition. I clearly indicated that to the House on an earlier occasion, much to the regret of somebody else on the front bench. Opposition members interjecting— The SPEAKER: Order! I do not understand why those on my left would want to delay proceedings. The Leader of the Nationals is seeking the call.