Fed govt denies it broke promise on budget surplus

23 Dec 2012, 2:33 pm   -   Source: SBS, AAP, Sky News
Share This
0 
+ Comment
21
Trade Minister Craig Emerson. (AAP)

Trade Minister Craig Emerson. (AAP)

The federal government says attacks from the opposition that it has broken another promise are unfounded.

RELATED

The federal government says attacks from the opposition that it has broken another promise are unfounded.

Treasurer Wayne Swan this week conceded that Labor would not be able to return the budget to surplus in 2012-13, despite its promise to do so for the past two years.

Trade Minister Craig Emerson has told Sky News the figures at the time of the promise had indicated a surplus was on track.

But he says the situation has changed.

"If you look to Julia Gillard's statement and Anthony Albanese statements, they are based on what where the best figures available to the government at that time. New figures came in, I think it was on Thursday, and on the basis of those new figures, with revenue not growing as strongly as expected because of the surpressing effects on profits of an unusually high exchange rate, that's what that decision/that announcement was made."

The federal opposition has promised to deliver a budget surplus if it wins next year's election.

The opposition's climate spokesman Greg Hunt has told Sky News the Coalition can bring the budget back to surplus by cutting on expenditure.

"The history is very clear.  We delivered 10 out of 12 surpluses, we have economic management in our DNA, the Labor Party under successive governments has delievered 11 out 11 deficits -- those aren't random figures, that isn't random chance."
 

Budget Surplus

  • Follow us: 
  • Follow us on Facebook
  • Follow us on Twitter
  • Follow us on Youtube

Your Comments

Display: 20 | 40 | All comments per page
Previous 10 | Page 1 | 2 | 3 | Next 10

uninformed discussion

phw - from canberra, 5 months ago

surplus or not, what does it matter? the real danger lies in the misinformation of the electorate about the need for fiscal flexibility in an economy that doesn't produce anything and depends on global consumption for its well being. the probably most callous deception is to claim that we have an economy: If China sneezes we go down with pneumonia!

Mr

Good Guy - from Sydney, 5 months ago

If Labor mob doesn't really care about a surplus then I am really worried. I always spend less than I earn knowing that there must be some surplus for me at any particular time. This is called budgeting. When Labor took office, John Howard / Costello left $20 Billion plus in surplus and then came the "GFC". Was it for real? For Labor mob, it was like driving a car with 12 air bags and now it looks like, there isn't any airbag left and we are waiting for an accident to happen.

Thanks to a Labour Government

durk - from melbourne, 5 months ago

We have the best economy in the world. no amount of shouting & and moaning will alter that. To their everlasting credit,...this Labour government has been doing good things for Australians and their future. Talk about the cost of goods and services,....The very high cost of fuel is affecting everything,....but we still rate AAA. When world conditions change,targets must change. Thank goodness the Australian's dismissed the Coalition so that Labour could steer us safely through the crippling GFC

Emerson defends the indefensible

Jamie - from Bellarine, 5 months ago

Emerson says the situation has changed. Gillard promised a surplus "no ifs or buts", & "failure is not an option". Swan promised a surplus "come hell or high water". So "if" & "but"; failure is an option; & hell & high water must be upon us. Or maybe they just broke a promise! Again.

Typical Liberal BS!!

Tony - from Perth , 5 months ago

Kevin Clarke - from Mount Eliza your comment stinks of Liberal propaganda. You forget Howard/Costello came into power to take credit of all the hard work and decisions made by Keating's Labor. You forget to mention the Mining Boom #1 and what did the Libs do spent on tax cuts, paying mothers to have babies, subsidised health cover for the rich, etc. etc. So history tells me Labor make the hard decisions only for the low life Libs to take the credit.

budvv

Marty - from Perth, 5 months ago

Up until last week Rough Red and her crew were still PROMISING a budget surplus. For whatever reason, it won't happen. When I went to kindergarten and I promised someone something, and I didn't deliver, then I had broken my promise. They didn't want to know why, it was taken as I had broken a promise. What has changed over the years??? Is a promise not a promise anymore, and if not why wasn't I told.

reformist

bruce - from north sydney, 5 months ago

If Gillard was treasurer she would surely make a surplus, she would call it a slush fund and "presto" there it is, the state governments can contribute through other government agencies and she could call it the Australian Labor Party Parliament Place Reform Association.... just ask Paul, he's still sloshing around in it..... Julia needs to toughen up and say to Wayne Swan "waaane loook a miii loook a miii it's time for a slush fund...

Mr

Trevor C - from Perth, 5 months ago

"Fed govt denies it broke promise on budget surplus" Labor in denial? Nothing new here. Labor has been breaking promises and in denial ever since it took office. Ho w about writing about something new please. ;-)

"WHO IS MAN"

Jan - from sydney, 5 months ago

This invisible man should stick to his port folio - or whatever- he should stop making rude noises, and perhaps go out and buy some contact lenses and read only. silence is golden

people forget

robert - from sydney, 5 months ago

trouble is, with labour minded people is they forget very easily.people vote labour in, economy goes into a deficit, people get sick of the government because they really know how to f.. everything up.Liberal comes in fixes everything people enjoy the good times again due to surplus and economic stability, people become forgetful of how shit labour was, but sadly they might not like the personality of the leader and vote him out.Labour comes in ..and it starts again.Remember Kevin07...lol fkr.

Display: 20 | 40 | All comments per page
Previous 10 | Page 1 | 2 | 3 | Next 10

Join the Discussion

Name
City / Suburb E.g. Artarmon, Sydney
Title
Comment
You have characters remaining.
Validation
What's this?
This is a captcha-picture. It is used to prevent mass-access by robots.
All submitted comments become the property of SBS. They are moderated, so we reserve the right to edit comments and remove HTML tags. Not all submitted comments will be published. Publication does not mean we endorse the opinions expressed. Please read our terms and conditions for more information.