More Labor lies to mask economic failure
13/08/10
Labor’s ridiculous claims that the Coalition has blown an $8 billion hole in the Budget to increase indexation of military superannuation would be akin to us saying that because there is not full provision for the cost of health in 40 years time in the Budget forward estimates that there is a multi-billion black hole.
This is a fundamentally dishonest claim by Labor’s deeply discredited economic trio of Wayne Swan, Lindsay Tanner and Chris Bowen who have no positive record to run on.
The Coalition absolutely stands by its costings of $98 million for the initiative over the forward estimates and we have made it clear that we will make a $100 million payment into the Future Fund as the first of many future instalments to cover the liability going forward.
The Coalition established the Future Fund because unlike Labor it fully understood the need to put money way to meet future unfunded superannuation liabilities. Labor has made very little contribution to the Future Fund.
Claims such of this demonstrate the level of desperation in the Labor camp to deflect attention away from its dreadful economic record which has seen Wayne Swan preside over a record $57 billion deficit and net debt of $90 billion.
The way Mr Swan talks about protecting the Budget surplus is both pathetic and laughable. Labor has an imaginary surplus factored into the Budget in 2012-13 which it will never deliver.
In reality Labor will continue borrowing $100 million a day for the next two years to help fund its continued reckless spending.
The Coalition has a track record of delivering real surpluses, year in, year out and paying off mountains of Labor debt.
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