SURPLUSES HALVED IF TONY ABBOTT WINS THE ELECTIONPosted August 15, 2010
Federal Labor today released for the public what the Liberals will not – a full summary of Tony Abbott’s reckless election spending.
Mr Abbott’s $30 billion dollar spending spree is more evidence that he lacks the judgement and the understanding of the Budget to manage the Australian economy.
Mr Abbott has blown his budget and has punched a $3.6 billion hole in the budget surpluses in 2012-13 and 2013-14. It’s taken Mr Abbott less than one month to almost halve the budget surpluses.
The only thing keeping Mr Abbott’s budget out of deficit is his $6.1 billion tax grab that will result in higher grocery prices, higher petrol prices and higher utility costs. And that’s before you factor in cost blowouts in his education tax refund and hospital beds policies.
Mr Abbott needs to come clean with the Australian people and tell them what further services he will cut and what taxes he will increase to fund his billions in un-funded spending promises. He has already admitted he will need to cut $9.3 billion in education and health services that families rely on to fund his promises.
Only a re-elected Gillard Labor Government has a clear set of budget rules that will see the budget return to surplus in 2013, three years ahead of schedule, and ahead of any major advanced economy.
Unlike the Opposition, 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 proven that he can’t be trusted with the budget.
If he can’t manage the Budget, he can’t manage the economy. And if he can’t manage the economy, he’s not up to the task of running the country.
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