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. 

Mr Abbott has still not submitted a single commitment for independent costing by the Secretaries of Treasury and Finance, missing the deadline set by Mr Hockey to submit costings following the release of the Pre-Election Economic and Fiscal Outlook on Monday. 

Mr Hockey’s latest excuse is that he doesn’t like the process for costing policies set out in the Charter of Budget Honesty Act.  These processes were introduced by the Coalition when they were in Government and this just represents another ‘the dog ate my homework’ style excuse from Mr Hockey.    

The Government continues to call on Mr Abbott to stop making excuses and commit to fully comply with the Charter of Budget Honesty.  The Liberal-National Coalition introduced the Charter in Government and should fully comply with it now.

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