Budget deficit ‘no surprise'
FEDERAL member for Cowper Luke Hartsuyker is not surprised to hear predictions that the planned budget surplus the Federal Government was working towards for 2012-13 was unlikely to be reached.
"Media reports that the Labor Government will not deliver on its commitment to return the budget to surplus 2012-13 are hardly surprising," Mr Hartsuyker said.
"Federal Labor has not delivered a Federal surplus since 1989-90 and has no idea about the importance of strong economic management."
Deloitte Access Economics said that Treasurer Wayne Swan's claim in the last budget that budget was on track to post a tidy surplus was unlikely.
Mr Hartsuyker said this latest information is damaging to Federal Labor's credentials regarding economic policy.
"After inheriting a $20 billion surplus from the Howard Gov- ernment in 2007 Labor has delivered budget deficits of $55 billion, $48 billion and now Deloittes are forecasting a budget deficit of $30 billion in this financial year," he said.
"Those deficits are no surprise given the waste and mismanagement of Federal Labor.
"We have seen billions of dollars wasted on pink batts, green loans, school halls and failed border protection policy."
Mr Hartsuyker said that the deficit could actually be worse than predicted.
"This latest blowout does not factor in the cost of rolling the $50 billion National Broadband Network, which has been cunningly kept out off the budget papers," he said.
"The Government has been borrowing around $135 million each and every day to pay its bills.
"Labor has no concept about the value of money and all Australians will be paying a very high price for their reckless spending."