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Swan completely wrong on costing claims.

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Media Release

Authorised and printed by Brian Loughnane for the Liberal Party of Australia Cnr Blackall and Macquarie Sts BARTON ACT 2600

The Hon Andrew Robb AO MP Shadow Minister for Finance and Debt Reduction Federal Member for Goldstein

Monday, 9 August

Swan completely wrong on costing claims

Wayne Swan has failed to check his facts before rushing to incorrectly claim a contradiction by the Coalition on spending measures.

Today at the National Press Club Mr Hockey provided a total expenditure figure including the mining tax .

On AM this morning, Mr Abbott was specifically asked about the Coalition’s saving and expenditure, excluding the mining tax .

LYNDAL CURTIS: You having your savings money - you're not spending from a mining tax you won't impose. Given you're not getting the money from the mining tax, once you take that $9 billion out of the picture, do your promises during this campaign come within the envelope that's left?

TONY ABBOTT: Oh yes, yes absolutely. We've identified including the mining tax something like $28 billion of cuts to recurrent spending, recurrent expenditure reductions and take the $10 billion or so out of the mining tax, that's still about $18 billion worth of reductions in recurrent expenditure. And our promised expenditure is well under that.

LYNDAL CURTIS: What is your promised expenditure going to be at, at the end of the campaign?

TONY ABBOTT: We will get back to surplus in 2012/13 and it will be a bigger surplus than the one that the Labor Party is promising.

LYNDAL CURTIS: So your spending will be under that $18 billion figure ?

TONY ABBOTT: Yes that's correct.

(AM, 9/8/10)

Mr Abbott was correct. The Coalition spending will be under $18 billion excluding the mining tax.

Mr Hockey was correct. The Coalition spending is currently at $25.7 billion including the mining tax.

The claim that opposition treasury spokesman Joe Hockey has contradicted Tony Abbott to the tune of $7 billion during today’s economic debate at the National Press Club is plainly wrong and deliberately deceptive.

Media Contact: Cameron Hill, 0408 239 521