Local residents will be disappointed that the Budget delivers more debt, deficits, taxes, broken promises and more uncertainty, said Scott Buchholz MP, Federal Member for Wright.
At a time when Australians are desperately seeking stable and competent economic management, the Budget just delivers more chaos, debt and spin, said Mr Buchholz.
For local families and those doing it tough, this Budget does nothing to help deal with cost of living pressures, economic uncertainty and poor services.
Labor has broken its word. They promised no carbon tax and a surplus. Instead we got a carbon tax and record deficits. On top of that, Labor scrapped tax cuts, family payments and the baby bonus.
Wayne Swan claims this Budget is 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, which does nothing for local businesses.
Mr Buchholz 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 Australias borders since last years 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.
Local families and businesses have to live within their means, but this government doesnt.
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 Buchholz said Tony Abbotts Budget Reply to be delivered on Thursday night would provide more details of the Coalitions Real Solutions Plan that will build a strong, prosperous economy and a safe, secure Australia.