MYEFO makes case for axing carbon and mining taxes
29th November, 2011
Federal Member for Wide Bay, Warren Truss today said the Gillard Labor Government’s Mid Year Economic and Fiscal Outlook (MYEFO) confirms that the Government is in crisis and has no money to fund the construction of the remaining sections of the Corroy to Curra Bruce Highway upgrade.“The Government’s Mid Year Economic and Fiscal Outlook has confirmed that in only four years, Labor has turned $70 billion in the bank into $136 billion in debt,” Mr Truss said.
“The Gillard Labor Government is now borrowing $100 million every day and are paying $100 million every week to fund Labor’s debt fuelled wasteful spending spree. We will have to borrow $74 million more every day until the end of the financial year just to pay for the increased deficit.
“In spite of record spending, record borrowing, and record taxing, the Gillard Labor Government has not allocated any funds in its mini budget to start construction of the Section A, Cooroy to Sankeys Road four lane upgrade, and it is now unlikely that the Gillard Government will ever commence the upgrade. In its last Budget, labor took $100 million off the Cooroy to Curra upgrade and has no plans to give the money back.”
Mr Truss said given the worsening economic climate, it was now the worst possible time to introduce a carbon tax and a mining tax.
“The carbon tax and the mining tax will cost jobs, slow growth, hurt exports and increase the deficit, all during a time when the world economic positioning was worsening.
“The best thing the government can do to protect Australia from a worsening world economy is to axe its carbon and mining taxes. The Liberal and National Parties have opposed these taxes in opposition and if elected, we would rescind them in government,” Mr Truss said.
“Wayne Swan has been good at promising surpluses, but has never delivered one.
“For all the talk about delivering surpluses the record shows that Labor has not produced a surplus in 22 years, since 1989-90.
“By every measure, Labor has taken a reckless approach to economic management over the last four years and that is not going to change in the coming year.
“MYEFO is proof that Labor can’t be trusted when it comes to sound economic management.
“Only the Coalition will return stability, certainty and competency to Government.”
