20-April-2011
Portfolio Media Releases
Wayne Swan has no problems with 'rivers of gold', the real budget problem for Labor is they are drowning in 'rivers of waste'.
"While Wayne Swan is using all types of excuses for the major structural problems he is facing with the budget, including the Queensland floods and the Japanese earthquake, everyone knows the problems are all of Labor's own making," Acting Shadow Treasurer Andrew Robb said today.
"The government will have splurged a staggering $85 billion on fiscal stimulus by the end of 2012, billions of it wasted on the likes of pink batts and overpriced school halls.
"As a consequence we are facing another record deficit, likely to be considerably higher than the $41.5 billion estimate," Mr Robb said.
"On top of this Labor's net debt is spiralling towards $100 billion, with annual interest payments alone in the order of $6 billion, the equivalent of six world-class hospitals.
"The big problem for the nation is the Gillard government simply does not know how to manage money.
"Instead of learning to live within its means it continually looks at taxpayers to bail them out.
"They resort to a flood tax, a multi-billion-dollar mining tax and now a toxic carbon tax.
"It is time for Wayne Swan and his government to stop using lame excuses, to get their hands out of taxpayers' pockets and to start living within their means, like millions of Australian households are doing every day," Mr Robb said.