20-May-2010
Portfolio Media Releases, The Economy, Funding
The Coalition today announced an unprecedented $46.7 billion plan as a serious first step to rein in Labor’s reckless spending, and take pressure off both increasing interest rates and costs of living, and pay down Labor’s massive debt.
“The Coalition rejects Labor’s tax and spend approach for managing our economy.
“The massive savings plan is just the beginning. Further savings will be announced ahead of the election to demonstrate how Australia’s financial accounts can return to the black, without resorting to major new taxes which strangle growth,” said Andrew Robb, Shadow Minister for Finance and Debt Reduction.
The savings are made up of $24.7 billion off recurrent spending, to fund an attack on the deficit and some offsetting spending initiatives, and $22 billion of one off capital savings which will draw down the Rudd Government’s massive debt.
Calls by the Rudd Government to release an alternative Budget were dismissed as breathtaking hypocrisy.
“In Opposition, the current government announced a paltry $3 billion dollars worth of savings ahead of the election. The detailed costings of a further $7 billion of savings, and offsets, were revealed just 12 hours before the election.
“Buried deep in Labor’s 6 page costings and savings document, was the fact that a massive $5 billion of spending commitments were unfunded.
“The dye was cast then on Labor’s reckless spending and debt approach to economic management,” Mr Robb said.
LinkClick.aspx - 070302_3Billion_Savings TANNER.pdf
LinkClick.aspx - Coalition savings 1 2.pdf
LinkClick.aspx - Independent Costing Review Panel Report on Labor Spending 23.11.2007.pdf
LinkClick.aspx - independent_costers_letter_to_tim_gartrell 23.11.2007.pdf
LinkClick.aspx - TANNER Third Savings 22.11.2007.pdf