Hockey Walks Away from $70 Billion Savings Task

08 September 2011

Opposition treasury spokesman Joe Hockey has contradicted himself and his colleague Andrew Robb on the fiscal task facing the Opposition.
After minutes from the Oppositions budget meetings were leaked to the Seven Network detailing a $70 billion black hole, Mr Hockey told Sunrise the Opposition was looking at a shortfall of $50, $60 or $70 billion.
His colleague Mr Robb has repeatedly confirmed the $70 billion figure, including on the weekend, when he said the figure was not a furphy, we came out with the figure.
Now we see Mr Hockey back at square one refusing to own up to the hole in the Oppositions budget figures.
Mr Hockey told 2GB late yesterday: Well can I say to you the number is not $70 billion.
The Opposition are all over the place on the fiscal task facing them contradicting each other, and now contradicting themselves.
They have got their books into a dire state and now they are refusing to own up to the problem.
Cutting $70 billion is equivalent to stopping Family Tax Benefit payments for three years or cutting the age pension for two years.
It is time for Mr Abbott and his economic team to explain how they will account for a black hole of this magnitude.
They cannot be trusted with economic management if they cannot even agree on basic fiscal facts and own up to a figure.