UPDATED NET BUDGET IMPACT OF ELECTION POLICIES

Federal Labor today released the updated net budget impact of its election commitments.

As part of the Gillard Labor Government’s commitment to fully offset the cost of its election spending, Federal Labor is today announcing a $47 million save over four years from the Low Emissions Technology Demonstration Fund.  This will not affect any of the current recipients under the program.

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 and 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.Federal Labor will continue to update the budget impact of its election commitments to ensure that voters are fully informed when they vote on 21 August.

The Gillard Labor Government continues to call on Mr Abbott to fully comply with the Charter of Budget Honesty.  The Coalition’s excuse for not having submitted one of its policies for costing is that the Pre-Election Economic and Fiscal Outlook (PEFO) has not been released.  The Secretaries of Finance and Treasury announced on Friday that the PEFO will be released tomorrow. 

The excuses are about to run out for Mr Abbott. It is time for him to fully comply with the Charter and immediately submit all his policies for independent costing by the Secretaries of Treasury and Finance.

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