Mr CREAN —My question is directed to the Acting Prime Minister, and I refer to the budget decision to abolish the shipbuilding bounty. Is the Acting Prime Minister aware of comments from industry leaders and a state premier that the decision risks sending many of the industry's 10,000 jobs overseas? In light of this, is he prepared to review the decision to abolish the bounty? If not, how does he justify cutting $9 million from shipbuilders in Hobart, Darwin, Perth and Adelaide exporting vessels overseas, particularly when the government has recently reversed another decision and found $23 million to help firms like Shell buy ships from Rotterdam?

Mr TIM FISCHER —It was Labor's policy to bring to an end this particular bounty. That was the circumstance laid down by the federal Labor government. You have had a change of heart.

Mr Crean —You have had a change of heart too—in government.

Mr TIM FISCHER —You must look at the total effort of the budget. It closes up the deficit by $7.2 billion over two years and brings to an end—step by step through the good work of Treasurer Costello—the circumstance of the legacy of Labor's debt, Beazley's black hole, which provides a range of specific initiatives for regional Australia which I dealt with earlier in question time.

Arising from what you did when you were in power, there has been an expectation that this bounty was going to come to an end anyhow. The government took steps in relation to Mackay, BHP and Shell. That is true. But, I must say, give us our budget, give us our industrial relations reform and give us the Telstra legislation and the high-tech, wave piercing ferry production of Australia will go gang busters.