RUDDERLESS LABOR DELIVERS MORE DEBT AND A CARBON TAX Labor’s Budget provides no plan to build a stronger economy, repay debt or create secure jobs.Instead, all it delivers is more borrowing, more taxes, record debt – and the world’s biggest carbon tax. As every resident of the Yarra Valley knows, five days before the last election, Julia Gillard promised “there will be no carbon tax under the government I lead”. Now, the world’s biggest carbon tax is about to hit families, jobs and investment at the world’s worst time.
Labor’s carbon tax will act as a wrecking ball on our local economy. It will jack up prices, force energy bills higher and heap more pressure onto our local businesses. One thing Wayne Swan did not mention in his speech was that he will yet again seek to increase in our nation’s credit card limit by lifting Australia’s debt ceiling to a record $300 billion – four times higher than it was in 2008. On Labor’s own figures, net government debt will climb to a record $145 billion in 2013-14, an increase of almost $40 billion since last year’s Budget. The interest cost of just servicing Labor’s net government debt will be over $8 billion a year, or around $22 million every day, by 2015-16. Whilst last year’s Budget promised 500,000 new jobs over two years, Labor now expects to miss its target by 300,000 jobs, with unemployment forecast to rise to 5.5 per cent. Our local community needs a government that can deliver an economic strategy to build a stronger Australia, reduce cost of living pressures and create secure jobs. Only the election of a Liberal-National Government will deliver this.
Click here to view article in Mail Newspaper 15 May 2012
