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AUSTRALIA 
Libs label Budget an economic con
Tuesday, 13 May, 2008
Malcolm Turnbull
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Opposition treasury spokesman Malcolm Turnbull has blasted the federal budget as an economic con.
Treasurer Wayne Swan tonight handed down Labor's first federal budget in 13 years, announcing a record $21.7 billion surplus, three new future investment funds and almost $47 billion in tax cuts.
Mr Turnbull said it was a high taxing, high spending old-fashioned Labor budget.
New taxes to raise the cost of alcohol, cars, health insurance and energy would add to inflationary pressures, he said.
"This is a typical Labor budget. It is not new leadership but old Labor," Mr Turnbull said in a statement.
"It is the first budget in years to introduce new taxes.
"Far from being a new excursion into economic conservatism, Mr
Swan's first budget is an economic con."
He disputed Mr Swan's claim that he had cut spending, saying spending would go up by $3 billion in this financial year alone.
"The Rudd government's first budget is not an inflation fighting budget," Mr Turnbull said.
"It is not a budget that lifts a finger to help Australians battling with rising costs of living - petrol, groceries, private
health insurance and home interest rates."
Source: AAP
Treasurer Wayne Swan tonight handed down Labor's first federal budget in 13 years, announcing a record $21.7 billion surplus, three new future investment funds and almost $47 billion in tax cuts.
VIDEO: A quick wrap of the budget
VIDEO: Key facts of the budget
Mr Turnbull said it was a high taxing, high spending old-fashioned Labor budget.
New taxes to raise the cost of alcohol, cars, health insurance and energy would add to inflationary pressures, he said.
"This is a typical Labor budget. It is not new leadership but old Labor," Mr Turnbull said in a statement.
"It is the first budget in years to introduce new taxes.
"Far from being a new excursion into economic conservatism, Mr
Swan's first budget is an economic con."
He disputed Mr Swan's claim that he had cut spending, saying spending would go up by $3 billion in this financial year alone.
"The Rudd government's first budget is not an inflation fighting budget," Mr Turnbull said.
"It is not a budget that lifts a finger to help Australians battling with rising costs of living - petrol, groceries, private
health insurance and home interest rates."
Source: AAP
