Treasurer, your pamphlet lied. The question for Treasurer Wayne Swan is actually simpler: why did you lie about the surplus? But credit to the dogged journalist yesterday who asked questions the dishonest Treasurer refused to answer: The Opposition raised the issue about pamphlets, taxpayer pamphlets released in the ten Labor electorates which said we delivered a surplus on time as promised. This is before your comments later in the year that the surplus wasn't being delivered. Can you tell us why these pamphlets [as pictured above] said you delivered a surplus on time and as promised when it is only as had been forecast? That's right, that is what we had forecast. At the end of last year, I stood up and said it was unlikely that that forecast was unlikely that that forecast was would be achieved because there have been a substantial change in the revenue outlook caused by global volatility You put out a pamphlet saying we have delivered a surplus. That is a huge difference. We have put in place a fiscal consolidation which is ongoing and that has been a key part in very significant interest rate cuts delivered by the Reserve Bank because our strict fiscal discipline has given them the capacity to adjust rates downwards but forecasts are adjusted. Twice a year, we first of all bring down a budget, then we bring out a mid-year budget update. Because of what occurred in the second part of last year, after the update, I provided further guidance of what had happened with revenue. It says "We delivered a surplus" and you hadn't. We had forecast a surplus, put in place a fiscal consolidation to achieve that surplus. Only somebody who would stick their head in the sand would ignore changes in the global economy. The facts have changed, so responsible Governments have to change their settings to protect growth and jobs. The transcript does end abruptly, so it may well be that the word "lie" was used.