Joe Hockey: This morning Treasury confirmed that Wayne Swan will break Australia’s $300 billion debt ceiling. Only three weeks ago Wayne Swan said: “…it is not necessary to do anything about the debt cap at all.” (Hansard, 15 May 2013) Now we have been told by Treasury in Senate Estimates hearings this morning that the expected peak of Commonwealth debt will be a massive $340 billion. Once again Wayne Swan has not told the truth to the Australian people. Wayne Swan didn’t tell the truth before the last election when he rebuffed questions about the carbon tax calling it a “hysterical allegation”. He also promised a surplus over 200 times and then broke his promise – and today, Treasury exposed his claim about the debt ceiling. The Howard Government left $70 billion in net assets and Labor has squandered it. In just five years, Wayne Swan has increased the debt ceiling four times, firstly to $75 billion, then $200 billion, then $250 billion and then $300 billion. Australia deserves better than a Treasurer addicted to debt. Wayne Swan’s actions are further proof that Labor can’t be trusted to manage the Budget or the economy. Only the Coalition has a Plan to build a strong, prosperous economy which will get the Budget back under control, repay debt and allow all Australians to get ahead again. Yours sincerely, Joe Hockey Shadow Treasurer You be the judge.
Posted on: Thu, 06 Jun 2013 00:12:01 +0000
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