LABOR WILL NEVER DELIVER A SURPLUS
10-November-2010
Wednesday, 10 November 2010
Sophie Mirabella MP – Federal Member for Indi has raised doubts about Labor’s ability to ever return the federal budget to surplus.
The comments follow the release of MYEFO (mid-year economic and fiscal outlook) that shows net debt in 2011-12 will be $5 billion higher than forecast during the election campaign.
“What this shows, is that Labor is simply incapable of ever delivering a surplus and have absolutely no idea how to manage a budget.
The figures also reveal claims that the Government has offset all new spending, are false and that spending has in fact exceeded savings by $142 million since the pre-election update.
“What amazes me is that the budget is deteriorating at a time when Australia is experiencing rapid economic growth. The deterioration in the budget position is all due to policy decisions.” Mrs. Mirabella said.
“It’s further proof that this Government cannot make a single tough decision when it comes to spending. The Coalition went to the election with around $50 billion of budget savings and Labor scoffed at them.
“Labor’s chronic addiction to spending is adding upward pressure on interest rates and further increasing the cost of living stresses that families are already dealing with.
“Julia Gillard and Wayne Swan just don’t get it when it comes to the economy. The Reserve Bank is doing everything possible to keep a lid on inflation while the Government is adding fuel to the fire by borrowing more than $100 million a day to feed their spending addiction.
“Labor cannot manage money. Bringing the Budget back into surplus requires courage. The Coalition made tough decisions during our last term in Government, but its clear Labor don’t have the guts to do the right thing,” Mrs Mirabella concluded.