The Coalition's finance spokesman Andrew Robb has said the Opposition's total savings over the next four years would be worth $49.4bn, including as yet unannounced spending cuts of $9.7bn.
Treasurer Wayne Swan called the costings "a farce" ahead of the Coalition's announcement in Sydney by Robb and treasury spokesman Joe Hockey.
Hockey told the assembled reporters that the Coalition's election costings had been verified by the accounting firm WHK Horwarth, "Australia's fifth biggest", and called on the Labor party to submit their own costings to similar scrutiny.
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Hockey said the Coalition would return the budget to a surplus of $6.18bn by 2012 - 2013.
Swan said earlier Opposition Leader Tony Abbott was failing to properly address the economy by refusing to debate Prime Minister Julie Gillard and not being present at the release of the opposition's costings in Sydney.
