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Budget 2012: Cooked books, Carbon tax, more debt
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 shows:
- 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;
- Labor’s fourth massive deficit in four years; and
- higher unemployment.
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This is a deceitful Budget from a Labor government that has broken too many promises
It is a “cook the books” Budget – the forecast wafer-thin surplus in 2012-13 is based on fiddled figures, money shuffles and the mining boom continuing.
And the Budget provides no buffer against future economic shocks as the economic storm clouds gather in Europe.
Watch Joe Hockey's response to Labor's Budget here: |
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