It is curious that Labor continues to peddle a lie that the Coalition is promising $70 billion of cuts. For example, only yesterday Kevin Rudd said
versus Mr Abbott, who has a $70 billion hidden plan of cuts to jobs, health, hospitals and schools.
This is an outright fabrication, even though personally I would like to see $70 billion (or more) of expenditure cuts from the Federal Budget.
My concern is more that the Coalition won’t cut severely enough. I think the strategy is to allow the slandering by Rudd et al and then, in the last week, to release a fully costed document which shows relatively insignificant cuts. That would certainly deflate the Labor attack.
But to emphasise Labor’s hypocrisy, one only needs to look at the Economic Statement released on 2 August 2013:
In this Economic Statement the Government has identified savings of $17.4 billion across the forward estimates. These savings build on previous saves of over $180 billion identified by the Government in the six budgets since 2008‑09
In other words, we should applaud the Government for fiscal prudence and large savings (which have not been delivered) but get stuck into the Opposition for advocating prudence.