News location:

Canberra Today 13°/16° | Friday, March 29, 2024 | Digital Edition | Crossword & Sudoku

Hanson: budget of ‘debt, deficit and deceit’

“AFTER promising responsible economic management, Labor has increased borrowings from $2.7 billion to $3.5 billion dollars. Money Canberrans have to repay and cannot be spent on real projects. 

Opposition Leader Jeremy Hanson
Opposition Leader Jeremy Hanson

The interest bill on the borrowings is over $655 million – enough to build and staff an entire hospital this term alone, debt free.

The deficit is over $340 million, a massive running deficit that is simply unsustainable.

And the deceit is astonishing. There is no excuse for the debt and deficits – revenue will actually grow by about $250 million a year and will be a billion dollars a year more by the end of the out years. And astonishingly, over the next four years Labor will spend $668 million in excess of this funding growth.

Then there were Labor’s election claims that all their promises were funded. In fact, there are $142 million dollars in cuts to jobs and services, none of which were flagged and all of which cause real pain.

The promise that there would no job cuts is just false: 100 staff will be lost from education next year, 38 staff lost in community services year, and 17 from CIT.

And Labor just keeps gouging Canberrans. Taxation revenue goes up 27 per cent in five years.

The take from rates goes up 16 per cent. Land Tax is up 5 per cent when Labor was meant to be getting rid of it. Car parking fees raise an extra 20 per cent. The traffic infringement take is up 28 per cent, court fines are up 200 per cent and parking fines 7 per cent.

This budget hides some stinging realities that will bring real pain – hidden behind the veil of debt, deficit and deceit.”

– Jeremy Hanson

Who can be trusted?

In a world of spin and confusion, there’s never been a more important time to support independent journalism in Canberra.

If you trust our work online and want to enforce the power of independent voices, I invite you to make a small contribution.

Every dollar of support is invested back into our journalism to help keep citynews.com.au strong and free.

Become a supporter

Thank you,

Ian Meikle, editor

Share this

Leave a Reply

Follow us on Instagram @canberracitynews