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Bradbury misleads his constituents on Labor's Budget failures

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Media Release Senator Mathias Cormann Shadow Assistant Treasurer Shadow Minister for Financial Services and Superannuation

12/0620/PK 20 June 2012

Bradbury misleads his constituents on Labor's Budget failures

Assistant Treasurer David Bradbury has been caught red handed brazenly misleading his constituents by claiming in his local propaganda that Labor had 'delivered a surplus, on time, as promised'.

Today in Parliament David Bradbury was unable to explain why he had misled his constituents.

The people of Lindsay, like all Australians, won't be fooled by Labor's dishonest spin machine.

The truth is that Labor inherited a strong budget position in 2007, with a $22 billion surplus, no government net debt and $70 billion of past surpluses invested in the Future Fund.

Labor has not delivered a single surplus Budget.

Labor has delivered the four largest Budget deficits in Australia's history, with $174 billion in accumulated deficits and record net debt heading for $145 billion.

All Labor has done in its most recent Budget is make a 'promise' of a small surplus in 2012/13.

Like Labor promised before the last election that the deficit this financial year would be $10 billion, when in fact it is now $44.4 billion.

Like Labor promised in last year's Budget that the deficit this financial year would be $22.6 billion, when in just 12 months that budget position has deteriorated by more than $20 billion.

Given Labor's track record of waste, mismanagement and deteriorating budget positions, how can anyone believe that Labor would deliver on a promised surplus 15 months from now?

Labor in government just doesn't know how to manage money. They don't know how to live within their means.

We need a government that spends less, which therefore can tax less and which is focused on growing our productivity and our economy more strongly.

Stronger economic growth would not only increase our prosperity as a nation, it would also lead to increased government revenue without the need for all these new and increased taxes.

David Bradbury should stop his dishonest Labor spin and actually focus on the important job of getting the government's Budget back under control.

MEDIA CONTACT: Senator Cormann 0411 874 546