Senator FEENEY (Victoria—Parliamentary Secretary for Defence) (15:13): I rise to take note of answers as referred to by Senator Fifield. Senator Fifield speaks of untruths sustaining a fiscal story. On that, no-one can doubt the credentials of the coalition. In fact, Senator Fifield raises the spectre: what happens if Labor is re-elected? I can tell you that one of the first things we will do, Senator Fifield, is thank you, because it is the political strategy crafted by you and your colleagues which I am sure will be a critical enabler to that glorious day, should it ever come. The coalition come to this conversation, and come to this political debate, sitting on top of a policy edifice which could not possibly look weaker and which could not possibly look more ramshackle. A $70 billion black hole underpins the political proposition of those opposite—a $70 billion black hole which those opposite are determined to avoid and refuse to accept acknowledgement for—and now they have the temerity to attack the policy and the fiscal position of this government. As Senator Wong made clear in her answer, the government that holds the record for having the highest level of spending as a percentage of GDP is the Howard government, at 24.2 per cent of GDP. While that number had fallen to 23.7 per cent by 2007, that is still far greater than it is today. In fact, the difference is some $24 billion per annum. So, in fact, rather than the Labor government, those opposite have the record of pulling more money out of this economy through taxation regulation. But, of course, you would never know that if you were to listen to the opposition—and there are a lot of other things you would not know as well. You would not know that those opposite propose to axe the carbon tax at a cost of $27 billion to the budget and that $3.2 billion of that is required to fund chairman Abbott's action plan. Senator Abetz: The Leader of the Opposition. The DEPUTY PRESIDENT: Senator Feeney— Senator FEENEY: The Leader of the Opposition and his action plan—the action man with the action plan. While those opposite might rail against a carbon tax, that $3.2 billion action plan is in effect the coalition's very own carbon tax. The $24 billion is required to refund big polluters for carbon permits. While those opposite like to spruik about sovereign risk, we find them roaming the highways and byways of this great country of ours telling business not to buy permits and not to participate in this scheme. There are $11.1 billion of unfunded promises from those opposite, because they have resolved to hand back moneys raised through the minerals resource rent tax. And, to make this position of theirs even more farcical, they are determined to keep the benefits that flow from that taxation but have resolved to give up the revenue. They have resolved to give up the revenue so that they can hand it back to the likes of Gina Rinehart and Clive Palmer—although one must speculate that those opposite must be regretting the idea of handing Clive a cheque this week at least. To add insult to injury, while those opposite are determined to hand back $11.1 billion to the mining industry by disposing of this tax, we see in Western Australia and Queensland state coalition governments raising royalties on those very same commodities—thus making an absolute mockery of the coalition's claim to be the friend and defender of these industries. We also see $8 billion in pledged tax cuts from those opposite. And, not content with a $70 billion black hole, we see those opposite peddling false hope in defence spending. Today we saw Senator Johnston have the temerity to ask a question about defence cuts compromising our national security—an outrageous assertion he could not make out. But where are the coalition's promises on defence spending? Where are the coalition's commitments to restoring defence spending to the level they say is appropriate? Of course, there is no such commitment; we just have weasel words from an opposition that cannot put before the Australian people a proposition that adds up or makes sense. Instead we see a coalition that are determined to walk both sides of the street, to peddle fear and to peddle false hope to various constituencies. This week we heard that the Deputy Leader of the Opposition begged and beseeched Senator Joyce to stop helping. One might invite her to make the same request of all of those in her Senate team because, right here and right now, those opposite do not have a proposition before the Australian people that makes political sense or economic sense—and your political future will be destroyed as a consequence.