labor picks $70b hole in abbott policies

Tony Abbott is under an election eve attack over an apparent $70 billion black hole in his campaign policies, with the government insisting the opposition would have to ''cut to the bone'' in health and education to keep his promises.

Finance Minister Penny Wong has released the government's own analysis of the opposition's unfunded spending commitments and said the promises would blow out the budget bottom line over the forward estimates by $70 billion.

"The opposition would have to make $70 billion in cuts to match our path to budget surplus, which they have repeatedly insisted they would do if elected," Senator Wong said.




"The only way Tony Abbott can make his budget numbers add up is to cut deeply into key services such as health and education, transport and infrastructure investment."

Senator Wong said the opposition could no longer hide behind excuses and a promise to release its own costings at a later date.

According to the government, contributing to the blowout would be Mr Abbott's commitment to scrap the carbon tax, implement a direct action plan, introduce a generous paid parent scheme and repeal the new mining tax.


Read more: http://www.smh.com.au/federal-politics/federal-election-2013/labor-picks-70b-hole-in-abbott-policies-20130803-2r66a.html#ixzz2axTAi2dO