Gillard, Swan refuse to rule out even more debt

15/08/10

Julia Gillard and Wayne Swan have refused to rule out even more debt if Labor is re-elected in morning television interviews today.

And Wayne Swan, when asked directly, again refused to answer whether he was the source of the criminal leak of the alleged Treasury note to the media last week.

Ms Gillard and Mr Swan are already borrowing $100 million per day to fund their reckless and wasteful spending; they have turned $45 billion in the bank into $89.5 billion of debt; they have turned a $20 billion budget surplus into a $57 billion budget deficit.

The interest bill alone for Ms Gillard and Mr Swan’s debt will be $6 billion per year in 2012-13 – that’s enough to build six brand new, state of the art teaching hospitals.

Now they won’t rule out borrowing even more if the global economy takes another downturn – something Ms Gillard today acknowledged is a possibility.

Ms Gillard and Mr Swan have also been exposed as laughable hypocrites on election costings, with Ms Gillard offering the pathetic argument that Labor didn’t put their policies in for costing in 2007 because the economy was strong then (thanks to the Coalition), but because the budget is in a precarious state in 2010 (thanks to Labor) then somehow the rules are different.

As Ms Gillard has today confirmed, policies that Labor announce tomorrow at their launch – which has deliberately been placed after the costings deadline – won’t meet the Charter of Budget Honesty deadline which was Friday.

All of our policies will be independently audited by a reputable, independent third party, whose verdict will be released prior to the election.

Only the Coalition has a plan to pay back the debt, stop the new taxes, and end the waste.