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Costello costing claims wrong: time for a new calculator Peter.

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Costello Costing Claims Wrong - Time For A New Calculator Peter Media Statement - 20th November 2007

Claims today made by Peter Costello in relation to Federal Labor’s compliance with the Charter of Budget Honesty are factually wrong.

Mr Costello claimed today that Labor had:

“Not submitted $3 billion of savings.” (Press conference, 20 November)

Mr Costello’s statement is incorrect.

If Mr Costello had bothered to check the facts he would know as at 5:30 pm yesterday (19 November) :

Ñ $3.326 billion worth of savings had been lodged by Federal Labor and

approved by Treasury and Finance under the Charter; Ñ $2.367 billion worth of savings had been lodged by Federal Labor and still

awaiting approval under the Charter.

That brings the total savings submitted to $5.69 billion.

In addition, further savings proposals were lodged by Labor today (20 November).

In addition to these savings there has also been $9.8828 billion of expenditure submitted under the Charter.

As at 5:30 pm yesterday 62 submissions totalling $15.5756 billion of policy (savings and expenditure) had been submitted by Federal Labor under the Charter.

This compares to 41 Submissions totalling $11.190 billion lodged by the Coalition under the Charter as at 5:30 pm yesterday.

The Coalition has not submitted a single cent of savings under the charter.

Mr Costello said today at his press conference that:

“Attention to detail is very important in managing the Australian economy.”

Given the grave errors in detail made by Mr Costello in his press conference

Wayne Swan

today, it is apparent he is no longer qualified for the job of Treasurer.

Authorised by Tim Gartrell, 161 London Circuit, Canberra City, ACT 2600