Joe Hockey sums up the Budget: carbon tax, more debt and “cooked books”
From Shadow Treasurer Joe Hockey’s media release tonight:
This Budget again confirms that Julia Gillard and Wayne Swan have no plan to build a stronger economy, repay debt or create secure jobs.
This is a confused Budget with no coherent economic strategy to deliver stronger growth and higher productivity.
Julia Gillard and Wayne Swan only have a plan for more borrowing, more taxes and record debt.
Budget 2012 delivers:
• the world’s biggest carbon tax;
• record net debt of $145 billion;
• a record new debt ceiling of $300 billion;
• a $26 billion deterioration in the Budget over the past year.This is a deceitful Budget – spending this financial year is around $100 billion more than it was just four years ago.
It is a “cook the books” Budget – the forecast surplus in 2012-13 is based on fiddled figures and money shuffles.
And the Budget provides no buffer against future economic shocks as the economic storm clouds gather in Europe.
Carbon tax
Despite Julia Gillard saying 5 days before the last election, “there will be no carbon tax under the government I lead”, Budget 2012 is Australia’s first carbon tax Budget.
The world’s biggest carbon tax is about to hit families, jobs and investment at the world’s worst time.
The Budget papers confirm that despite falling international prices, Labor’s toxic tax will go up to $29 a tonne in just three years and an additional $36 million will be spent on taxpayer-funded carbon tax advertising over the next two years.
The complete version of Joe Hockey’s media release is available here.
