The measures outlined in last week’s Budget are absolutely necessary to secure Australia’s economic future.
The Budget outlines a clear plan – in fact, the only plan – that will address Labor’s debt and deficit disaster.
Let’s remember the problem that the Government is trying to fix.
When the Coalitions last left office, Australia had a $20 billion surplus and $50 billion in the bank but over six years, Labor squandered this and ran up five record deficits and a further $123 billion in projected deficits and gross debt headed towards $667 billion.
You pay for that. You pay for that debt every single day and every month Australia is spending one billion dollars just to cover the interest on Labor’s debt.
At the moment we are borrowing to pay that interest, which is like a household paying the mortgage on a credit card.
In my view, that is simply unsustainable.
So through the Budget the Government delivered an Economic Action Strategy that will put Australia’s finances back on a sustainable footing.
Our plan will strengthen the economy, create jobs and reduce Labor’s debt by almost $300 billion.
We need to take action now or an even greater burden will fall on our kids’ generation.
Now, the Labor Party is desperately trying to scare people by spreading untruths about the Budget.
For example, they won't tell you that funding for schools and hospitals increases each and every year under our Budget.
And that the rate of the pension will continue to go up twice a year, every year.
You can get all the facts at www.budget.gov.au
25 May 2014