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Statement by Treasury & Finance a massive blow to the Government's credibility

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Media Release

The Hon Joe Hockey MP Shadow Treasurer Coalition Campaign Spokesman

Statement by Treasury & Finance a massive blow to the Government’s credibility

The Secretaries of Treasury and Finance have today taken the unprecedented step of releasing a clarification of their role regarding recent reports of costings undertaken by the two Departments.

They have been so concerned that they have clearly sought to distance themselves from the Government.

This is a massive blow to the Government’s credibility.

The two Secretaries have stated that at no stage have they costed Opposition policies:

“At no stage prior to the Caretaker period has either Department costed Opposition policies.”

Further, they state that:

“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.

“The financial implications of a policy may also differ depending on whether the costing is presented on an underlying cash balance or fiscal balance basis.”

This confirms that Treasury and Finance have not provided any advice to the Government on Coalition policies and have not provided any advice that there is a $10 billion hole as wrongly claimed by Labor.

The Government must stop playing games now.

The Coalition’s costings have been verified by the independent Parliamentary Budget Office - the body that Labor itself established for this purpose.

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