Treasury reveals Australian political parties' costing on election promises

13:27, September 02, 2010      

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The Treasury late Wednesday said there is a hole of up to 11 billion dollars (10 billion U.S. dollars) in the Coalition's costing of its Australian general election promises.

Independent Members of Parliament (MPs) Rob Oakeshott, Tony Windsor and Bob Katter have received Treasury briefings on the budget impacts of the election promises made by both the Coalition and Labor.

The analysis showed the Coalition has problems with its spending plans for the Health and Hospitals Fund, the Education Tax Refund and its Paid Parental Leave scheme.

One of the independents, Tony Windsor, said Opposition Leader Tony Abbott needs to explain.

Abbott had originally refused to submit his costing to Treasury because of a leak. Windsor said the Treasury analysis probably explains why Abbott was cagey with his figures.

Labor said its promises would save the Budget bottom line about 43 million dollars (39 million U.S. dollars) over four years, but Treasury said it would be more likely add 104 million dollars (95 million U.S. dollars).

Windsor said Labor's election promises were pretty much on target.

The three independents, who also holds balance of power in Parliament to decide which party to form minority government, on Wednesday revealed that their decision on which side of politics to support could take as long as until next Tuesday.

Source: Xinhua


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