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When Abbott goes will Labor support fixing its own mess

  1. Hairyback

    36,041 Posts.

    This is the question for Bill Shorten.
    You see blocking everything That Abbott put forward was nothing to do with bad policy , it was all to do with hatred of Abbott.
    Hell Shortens Labor even blocked their own savings measures.
    So now it looks like the Media have done a job on Abbott , will Labor start supporting measures to reign in Labor,s debt.

    Australia is at debt’s door, warns Reserve Bank of Australia chief Glenn Stevens

    THE governor of the Reserve Bank and the new head of Treasury have delivered a dire warning to Cabinet that if the government’s spending cuts, being blocked by Labor and the Senate, fail to get passed, then the budget is at risk of never getting back to surplus.
    The prediction of the nation’s future finances without structural reform was made in an extraordinary briefing to Cabinet on Tuesday in Canberra by new Treasury Secretary John Fraser and RBA boss Glenn Stevens.


    It is the first time Mr Stevens has briefed Cabinet in his eight years as RBA governor.
    The 20-page slide presentation showed the budget position continuing to worsen, and that even with an economic growth path of 3 per cent per annum the budget would continue to be in deficit beyond the 10-year prediction made in last year’s budget forecasts.
    Labor has labelled the government’s spending cuts as “unfair”. However, Mr Fraser’s presentation to Cabinet showed the government was now borrowing almost $110 million a day to pay its bills due to interest payments on debt and the growing Budget deficit, which the Coalition inherited from the previous Labor government.

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