Labor attacks the Coalition for making faulty election promises

Both Labor and the Coalition continue pointing fingers and nitpicking on one another’s economic strategies. Treasurer Joe Hockey has highlighted major loopholes in Prime Minister Kevin Rudd’s claim of a $10 billion black hole in the Coalition’s election promises.

“This is a massive blow to the Government’s credibility. The Government must stop playing games now,” Hockey maintained.

PM Rudd has publically criticized the Coalition for presenting a faulty plan. The premier said that there was a massive $10 billion hole in $31 billion of Coalition cuts. He accused the leading opposition party for misleading the general public of Australia.

Senator Wong said: “$1 in every $3 that they counted as savings does not exist.”

According to Treasurer Chris Bowen and Finance Minister Penny Wong, highly confidential documents from Treasury and the Parliamentary Budget Office have proven that Tony Abbott’s strategy lacks economic strength. Responding to the direct and harsh criticism, Abbott said that Rudd has got all his own figures wrong and now he is wrong about other people too.

“At no stage prior to the caretaker period has either department has cost Opposition policies. Different costing assumptions, such as the start date of a policy, take-up assumptions, indexation and the coverage that applies, will inevitably generate different financial outcomes,” Treasury secretary Martin Parkinson and Department of Finance head David Tune said.

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