Posted on 05. Nov, 2010 in Election Media Release, News

Ted Baillieu has already promised $4.18 billion worth of taxpayer’s money in an uncosted, unaffordable spending spree before the first week of the election campaign is even over.

Treasurer John Lenders said he was amazed by the level of reckless spending by Mr Baillieu despite the many warnings he had made over the past weeks.

He said Mr Baillieu had made promises worth almost as much in capital expenditure in addition to the $4.18 billion.

“Ted Baillieu has already made more promises than he can afford and, depending on the outcome of the Pre Election Budget Update, may well push Victoria into deficit,” Mr Lenders said.

“Mr Baillieu has already made more than $4 billion worth of election promises.  Many of his promises are so lacking in detail that Mr Baillieu is unable to determine the true cost of his spending spree.

“Just like Tony Abbott, Mr Baillieu is refusing to submit his election promises to the independent Victorian Treasury for costing.  What does Mr Baillieu have to hide? Mr Baillieu should not deny Victorians the right to find out the true cost of his election promises.

“Mr Baillieu is playing with real money now. While Victoria has the strongest budget of any state, on this trend, Victoria’s balance sheet will be thrown into the red by Ted Baillieu’s election record spending spree. Mr Baillieu reckless and uncosted spending spree is now the biggest threat to Victoria’s economy and jobs.

“As the Treasurer of this State, I cannot simply watch Mr Baillieu spend taxpayer’s money like this and put the AAA rated Victorian budget into the red.”

Mr Lenders said the Brumby Labor Government had again shown financial discipline by promising an affordable $891 million worth of output and $762 million capital in election policies so far. He said he was lodging the first batch of election promises with 66 initiatives to the independent Victorian Treasury today and called on Mr Baillieu to do the same.

“Mr Baillieu’s election promises have gotten out of control and I will be keeping a tally of the very real damage he is doing to the state’s finances on our splurgeometer website,” Mr Lenders said.

For more information visit http://www.splurgeometer.com.au

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