29 June 2014

Labor continue to live in debt and deficit denial


This media release discusses the shadow government policies

Labor must come clean and tell the Australian people if they support the Budget ever returning to surplus.

Labor set Australia on a pathway to $667 billion of gross debt, with $123 billion in cumulative deficits, yet continue to oppose plans to fix their mess. They’re happy for Australia to continue to pay $1 billion in interest every month on their debt.

Instead of supporting, or offering an alternative to, the Government’s Economic Action Strategy Labor continue to live in denial about the debt and deficit disaster they created.

This morning Shadow Treasurer Chris Bowen said he was happy to compare Labor’s fiscal bottom line with the Government – bring it on we say.

Mr Bowen should therefore immediately release the details of what Labor’s bottom line is.

The independent analysis of the 2013 election costings by the Parliamentary Budget Office showed that the Coalition would deliver a stronger bottom line than Labor.

Since the election Labor has announced they are opposing $40 billion of savings in the Parliament – including billions of dollars of savings they took to the last election.

If Labor even opposes their own savings, how serious are they about the Budget ever returning to surplus to pay off their debt?