BUDGET REPAIR THAT’S FAIR
Labor is making its plans for the budget over both four and ten years and we will have more saving than spending over the decade. Labor believes in returning the budget to balance in a way that supports economic growth over the next four years. That’s why our budget savings, like reduction of negative gearing, will build over time and deliver a substantial fiscal dividend over the medium term.
The Liberal Government promised to fix the budget. After three years, the independent Pre-Election Economic and Fiscal Outlook shows the budget deficit has tripled since 2014 with net debt now $100 billion more than when the Liberals came to power.
The Liberal Government has put Australia’s AAA credit rating at risk.