TREASURY RELEASES COSTING GUIDELINES FOR ELECTION

TREASURY RELEASES COSTING GUIDELINES FOR ELECTION

Posted on 13. Oct, 2010 in News

New guidelines have been issued for political party election costings to be independently assessed by the Victorian Treasury in the lead up to the November election.

Treasurer John Lenders said Mr Baillieu had refused to submit his election promises to costing by the Victorian Treasury which would ring alarm bells for every Victorian taxpayer after the reported $10.6 billion black hole produced by his Federal Leader, Tony Abbott.

“Victorians could only ever believe Mr Baillieu’s election promises if he submits them for costing by the Victorian Treasury,” Mr Lenders said.

“Mr Baillieu does not want the true cost of his policies being made public before the election.  Mr Baillieu has never had to budget before and is trying to avoid public scrutiny of a budget black hole.

“These procedures set out by the Victorian Treasury are very similar to those devised by Peter Costello and used for all Federal Elections since 1996.

“These guidelines ensure that all parties, whether in government or not, have access to costings by those best placed to do those costings – the independent Victorian Treasury.

“This process also makes sure that costings are published on the Victorian Treasury website so members of the public can find out whether a particular party’s policies are affordable or not.”

Mr Lenders said Mr Baillieu’s election promises on his party’s website are currently worth over $3.3 billion.  Mr Baillieu has also made over $17 billion worth of spending promises that are not listed as formal policy documents on his website and Mr Baillieu is expected to make billion of dollars more promises including more promises today.

“Mr Baillieu refuses to demonstrate any financial discipline whatsoever,” Mr Lenders said.

“While Victoria currently has the strongest finances in the nation, we cannot withstand a Baillieu vote-buying spending spree or a $285 million black hole like Mr Baillieu produced in 2006.

“Mr Baillieu’s uncosted promises, which he refuses to submit to Treasury, loom as one of the biggest threats to the Victorian economy.”

“Through the Brumby Labor Government’s disciplined financial management, Victoria withstood the GFC better than most but we cannot afford a BFC – a Baillieu Financial Crisis.”

Mr Lenders said the Victorian Government had decided to submit its policies for independent costing by the Victorian Treasury and called on Mr Baillieu to do the same.
“Mr Baillieu won’t have his election promises audited by an accounting firm and he won’t submit them to the Victorian Treasury for independent costing, leaving Victoria’s taxpayers with a very real risk that there will be costly mistakes to be paid for by them,” Mr Lenders said.

The guidelines are available at www.treasury.vic.gov.au

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