I dunno Glug, it will be difficult if not impossible to know what part of the forward debt is due to funding run offs from Labor's commitments, or new funding requirements from the Coalition. At least in 2007 there was a positive starting point with little debt, money in the bank, and rising receipts. This time we have total chaos with rising debt and falling receipts.
Many of Labor's promises and policy were forward dated which the Coalition will probably have to honor the funding in many cases. So how do we determine what is the Coalition's borrowing,and what is borrowed to fund Labor's promises?
For example, BER is still running and costing, house inspections for the Pink Batts disaster is still underway. The assylum seeker blow out costs are unknown, infrastructure still being built. Has the $35 Billion been paid to that South African company to build the compound on Manus island, or will the Coalition have to find that to honor that contract signed by Labor?
The fact is we have proper managers in now to look after the books and to turn around the economy. It won't happen overnight but it will happen...
