Australian opposition to deliver speech on budget surplus

11:15, May 13, 2010      

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Australian Opposition Leader Tony Abbott on Thursday night will deliver a major speech to parliament, showing a different path to budget surplus outlined in the federal government's budget.

Abbott will use his budget reply speech to reveal how the coalition will reduce the current year deficit of 57.1 billion dollars (51 billion U.S. dollars).

"He will show the direction in which we will address the biggest deficit since World War II," opposition finance spokesman Andrew Robb told ABC Radio.

"He will clearly use tonight to demonstrate we will tackle with conviction the reckless spending that's being going on, the waste and mismanagement of this government," the spokesman said.

The government's budget, unveiled on Tuesday, forecast a return to surplus in 2012/13, three years earlier than Labor predicted in 2009.

The opposition has dismissed the forecast as unbelievable saying it relied on a tax windfall from the best terms of trade in 60 years.



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