Budget 2013: More Debt, More Chaos, More Spin says Fletcher

This year’s Budget delivers more debt, more deficits, more taxes, more broken promises and more uncertainty said Paul Fletcher MP, Federal Member for Bradfield.

‘What Labor delivered – in this term and in this budget – stands in stark contrast to what was promised. Labor promised no carbon tax and a surplus. Instead we got a carbon tax, record deficits and in this Budget, Labor scrapped tax cuts, family payments and the baby bonus.

‘Wayne Swan said this Budget was about “jobs and growth” but the Budget actually forecasts an increase in unemployment (up to 5.75%) and lower growth (down to 2.75%). 

‘This Budget means less jobs and slower growth’.

Mr Fletcher said key areas of concern in the Budget include :

-          total gross debt to breach the $300 billion debt ceiling in coming years;

-          no credible path back to surplus;

-          at least a $4.7 billion blowout in the management of Australia’s borders since last year’s Budget;

-          new borrowings of $49 million every single day, and

-          more than $25 billion in higher taxes over the next four years – with 99% of these new taxes starting after the next election.

‘Families and businesses have to live within their means, but this government doesn’t’. 

Over the last 5 years, the Gillard Government has spent $191 billion more than it has raised.

‘Only the Coalition has the Plan, experience and discipline to return the Budget to sustainable surpluses, reduce debt and provide real support to Australian families to help them get ahead again’.

Mr Fletcher said Tony Abbott’s Budget Reply to be delivered on Thursday night would provide more details of the Coalition’s Real Solutions Plan that will build a strong, prosperous economy and a safe, secure Australia.