Senator CORMANN (Western Australia—Minister for Finance) (14:30): I can indeed confirm that the coalition government is hard at work to fix up Labor's budget mess. I can confirm that we are hard at work, in a methodical, careful and orderly fashion, making decisions that strengthen our economy and that repair the budget mess that we have inherited from the Labor Party. Unlike Labor, which inherited a budget with no debt, with a $20 billion surplus, with cash at the bank, this government inherited a budget with a $30 billion deficit and growing, with net debt heading for $200 billion and beyond, with gross debt heading for $300 billion and beyond, without the government having taken the prudent and appropriate steps to ensure that the government was able to borrow the money necessary to fund the operations of government. Senator Conroy: Mr President, I raise a point of order on relevance. The question was very specific. It asked: what is the impact of these decisions over the forward estimates? The senator has been going for nearly half his time and has not once attempted to address the question, so I ask you to invite him to address the very specific single question that was asked. The PRESIDENT: There is no point of order. I believe the minister is answering the question. I am listening to the minister's answer. I call on the minister to continue. Senator CORMANN: Thank you very much, Mr President. Of course, in answering these questions directly and in a relevant fashion it is always important to provide the appropriate context in which we have had to make those decisions. I can confirm what has been publicly announced, and that is that we have provided a grant of $8.8 billion to the Reserve Bank, which was the responsible decision to make, given Labor recklessly and irresponsibly depleted the reserves of the Reserve Bank and made a whole series of other bad decisions. The former minister for finance very well knows that budget positions are updated in the usual way in the Mid-Year Economic and Fiscal Outlook, which will happen before Christmas. Let me just address one other point that was raised in that question. Senator Conroy: Mr President, I raise a point of order on relevance. There may have been the odd occasion in the past where you have invited me to address the question, but even I would have been embarrassed by avoiding the question this directly. What are the estimates over the forwards? That is a very specific question and, with 20 seconds left to go, I invite you to get him to have a stab at it. The PRESIDENT: Can I say firstly that flattery gets you nowhere! Secondly, can I say in applying the standing orders I have been listening to the minister's answer, I believe the minister is addressing the question. The minister still has 17 seconds remaining. I call on the minister. Senator CORMANN: Thank you very much, Mr President. Of course, Senator Wong and Senator Conroy well know that the budget estimates are updated in the usual way in the Mid-Year Economic and Fiscal Outlook. That is what this government will do. But let me just reject one other inaccurate assertion. Labor's tax on earnings from superannuation— (Time expired)