Labor’s policy costing hypocrisy

06/08/10

Prior to the last election Labor submitted just 32 policies for costing before the cut-off date and a shameful 123 after the cut-off. This included the submission of 104 policies within just three working days of the election.

The Coalition will be submitting all our policies for costing under the Charter of Budget Honesty, which was set up by the Coalition, after inheriting a $96 billion black hole from Labor following the 1996 election.

Already, 34 policies, including 28 savings proposals totalling $5.7 billion and six spending proposals have been submitted. This is 11 more policies to date than Labor has submitted.

When you consider Labor’s appalling track record in the lead-up to the 2007 Federal election, its attacks on the Coalition are frankly laughable.

Big ticket items that Labor submitted just before the election included its first and failed NBN proposal, its commitment to build new childcare centres which it has now all but abandoned, its so-called education revolution and GP Super Clinics.

Department of Finance and Administration said: “As these requests were received after Thursday 15 November 2007, Finance was unable to satisfactorily complete the costings prior to the election.”

As of yesterday Labor has so far identified a paltry $1.994 billion in savings and remains $134 million in the red when it comes to off-setting its new spending commitments.

We are still waiting for the “hard choices and unpopular cutbacks” promised by Julia Gillard during her ‘economic’ address to the Australian Press Club last month.

It’s a bit rich for Wayne Swan to try and lecture the Coalition.