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Costings black hole may sink Coalition

Posted by: 3AW Radio | 2 September, 2010 - 8:05 AM

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RELATED AUDIO:

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REPORT: Treasurer Wayne Swan says a massive black hole in the Coalitions costings shows they can't be trusted to run the economy.

Treasury has revealed savings put forward by the Coalition might only add up to $1 billion instead of the $11 billion the Opposition is claiming.

Mr Swan says the errors are startling.

Shadow Finance Minister Andrew Robb says Treasury and the Coalition have simply made different assumptions.

The Greens deal explained

Adam Bandt HINCH BLOG: "What it means is that the alliance will pull the Labor Party further Left—although they’ll never get to where the Greens are. And how will the Right Wing powerbrokers feel about that?" Read more and have your say.

Blog comments Your Say

  • Election 10
    To think we are being held up in forming some sort of government by 3 men who gave their preferences to the Liberal party , why we cannot except this I cannot understand , the Greens gave all their preferences to Labor why this does not count I can not understand. Also why does the Governor General not give the both parties a set time to form government not just muck around all this time !!!

    sue thorp Friday 3 September, 2010 - 11:16 AM
  • The problem with exorbitant housing prices goes back to DUMB decisions by governments, particularly to allow uncontrolled foreign ownership. It really took off around the time that Hong Kong returned to Chinese control, when billions was invested overseas in the property market, particularly Australia. Unit & housing prices skyrocketed in Australia & investors made mega bucks, except for one small problem, our housing prices are currently 40% over-valued and beyond the reach of ordinary Australians. Treasury are obviously concerned that if they increase interest rates too harshly, they could quite easily trigger mass foreclosures due to an inability to meet repayments, which could potentially create panic in the property market, precipitating a mass foreign exodus & rapid depreciation of assets. The other problem is a rising dollar which is killing our exports. The dollar has to be devalued to make our exports more attractive, otherwise we will LOSE generations of family farming to multi-national corporations, and food will become a luxury item, instead of a routine necessity. Australians will get screwed one way or the other. At least with falling property prices, it will eventually correct itself (providing governments restrict foreign ownership), and allow a greater percentage of Australians access to more affordable housing. We have to get off the GREED mentality rollercoaster ride, instead of giving this country away for a pittance & being subject to FOREIGN ownership~! We have too many politicians lining their own pockets at OUR expense~!

    Lenny Friday 3 September, 2010 - 10:12 AM
  • Go Julia! The worst thing that could happen to this country is ANOTHER Howard Government by PROXY...with Rabbit as the puppet.

    mel Friday 3 September, 2010 - 9:22 AM
  • Gerard, I LOVE your style~! When you've been caught with your pants down & all else fails, quote directly from the Liberal Party election manual - "feed em bull & deny it"~! Yes Gerard, just like the BER was 'wasted', except the problem was confined to 2.5% of expenditure, not massive fraud as suggested by Liberal Party fanatics~! Even the latest economic figures don't support you~! Gerard, by my count Labor has 75 votes, needing one vote for government. Whereas the opposition has 72 votes, with a maximum of 3 potential votes, leaving you one short. Your next best option is a new election (extremely unlikely), particularly when voters are unlikely to forget that 11 BILLION dollar hole. Oops~! Sorry, what happened to honesty, integrity & accountability in government, or do those policies only apply during a period of opposition? Hey mate, there's always the next election, and hopefully, NOT another Liberal Party leadership spill~! :P

    Lenny Thursday 2 September, 2010 - 5:55 PM
  • Can someone change the photo at the top of this page its offensive and making me feel sick!

    jon Thursday 2 September, 2010 - 4:47 PM
  • Oh dear Gerard, the waste. The waste was the surplus sitting in Johnnies piggy bank and not being invested on Australia future. Any thinking man or woman should relise that!
    The waste kept Australia from going into a deep hole, you should be grateful. No modern government runs at a surplus because most modern forward thinking government are investing for there countries futures and for that they have to borrow.
    By the way they did not produce that money it was loyalties from the mining industry which was driven by another country, so thinking man get your facts right!

    jon Thursday 2 September, 2010 - 4:42 PM

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