UPDATED NET BUDGET IMPACT OF ELECTION POLICIES

Federal Labor today released the updated net budget impact of Federal Labor’s election commitments to date. 

The Gillard Labor Government today announced new initiatives to reduce carbon pollution while we build a consensus for a market to limit pollution.  Funding of $208.7 million for these initiatives was provisioned for in the 2010-11 Budget measure Renewable Energy Future Fund. 

The Gillard Labor Government’s responsible economic management will ensure the budget is back in the black with a surplus in 2013, three years ahead of schedule. 

The Gillard Labor Government has already committed that by election day:

·          All our commitments will have been fully offset over the forward estimates – meaning not a single cent is added to the overall budget bottom line.

·          All our policies will be submitted for costing under the Charter of Budget Honesty. This net budget impact of Labor’s policies will be updated regularly throughout the campaign, to ensure that voters are fully informed on the fiscal impact of election policies when they vote on 21 August. 

The Government continues to call on Mr Abbott to fully comply with the Charter of Budget Honesty.  The only way Australians can really know what Mr Abbott is promising and how he will pay for it is for the Coalition to immediately submit all their announced commitments ‑ including savings from cutting services – for independent costing by the Secretaries of Treasury and Finance.

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