UPDATED NET BUDGET IMPACT OF ELECTION POLICIES

Federal Labor today released the updated net budget impact of the Gillard Labor Government’s election commitments. 

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

The Prime Minister has 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. 

To date, Labor has submitted 17 of its election policies to the Secretaries of Treasury and Finance for costing which can all be viewed at www.electioncostings.gov.au 

The Opposition has still not submitted a single policy for independent costing by the Secretaries of Treasury and Finance.   

Since it was launched, the election costing website has optimistically declared the Coalition’s policies will be ‘coming soon’, but all Joe Hockey has offered is more excuses for delay. 

Mr Hockey promised that he would submit costings following the release of the Pre‑Election Economic and Fiscal Outlook on Monday, but four days later not one policy has been submitted. 

Mr Hockey’s latest excuse is that he doesn’t like the process for costing policies legislated under the Charter of Budget Honesty Act.  These processes were introduced by the Coalition when in Government and they should comply with them in Opposition. The Government continues to call on Mr Abbott and Mr Hockey to stop making excuses and commit to fully comply with the Charter of Budget Honesty. 

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