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Australia : Labor's $30 billion spending spree threatens Victorian households.

Daniel Andrews and Labor have already made election promises totaling around $30 billion, with six weeks of election promises still to come, Treasurer Michael O'Brien revealed today.

The tally, based on Labor's public commitments and costed by the Victorian Coalition Government, reveals Labor's spending spree is more than three times its promises at the last election. In 2010, Labor promised $8 billion in initiatives.

"Daniel Andrews and Labor pose a clear and present danger to Victoria's finances. They cannot pay for the multi-billion dollar promises they have already made, with six weeks of campaigning still to come," Mr O'Brien said.

"Labor's election promises are unfunded and wrongly costed. A rigorous analysis shows the true scale of their spending spree which would send Victoria's Budget back into deficit and lose Victoria's prized AAA rating.

"The $30 billion price tag matters because a Labor Government would need to borrow the extra money and hit the budgets of Victoria's two million households with higher taxes and charges.

"The last time Labor was in power, Victorian households were forced to pay for its budget blow outs on dud projects such as Myki and the desal plant. Labor passed on the cost of its desal plant through water bills and the cost of its smart meters through power bills.

"Melbourne water users are still paying $1.8 million a day thanks to Labor's desal folly.

"Households live within their means; so do Coalition Governments. Labor always makes Victorian families pay for their cost blow outs," Mr O'Brien said.

Under the immense weight of $30 billion in promises, an Andrews Labor Government would need to pass on the costs through household expenses such as:

Power bills; Water bills; Fire Services Property Levy; Public transport fares; Higher state taxes; and Fees, fines and charges.

Business would not be off the hook, with payroll tax and other business levies set to be raided to fund Labor's spending spree.

Mr O'Brien said that Daniel Andrews and his Shadow Treasurer simply cannot afford their promises and cannot be trusted with the State's economy.

"Labor are desperate to avoid their election spending spree being exposed to independent scrutiny. That is why Labor voted to defeat the establishment of an independent Parliamentary Budget Office (PBO) earlier this year," Mr O'Brien said.

"Having PBO policy costings available from the beginning of September in an election year would have provided ample time for Labor to have their policies costed in the lead-up to the election in late November.

"Having voted to scuttle the PBO, Daniel Andrews and Labor now need to commit to submitting their policies to the Department of Treasury and Finance so Victorian households will know how much Daniel Andrews reckless spending will cost them.

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Publication:Mena Report
Date:Oct 20, 2014
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