Opposition outlines $31.6 billion in savings

Opposition outlines $31.6 billion in savings

The Federal Opposition has released what it says is the “great bulk” of its budget costings today.

Shadow Treasurer Joe Hockey has revealed $31.6 billion dollars in budget savings, that will be made under a Coalition government.

Federal Labor has been calling on the Opposition to come clean with the Australian public, and reveal how it will fund its policy commitments.

Mr Hockey says this is the first time an Opposition has released the great bulk of its savings, three-quarters of the way through an election campaign.

He says the biggest saving will be the cutting of 12,000 public sector jobs, which will save $5.2 billion.

Abolishing the school kids bonus will save another $4.6 billion, and $5.4 billion from scrapping the carbon tax compensation.

Mr Hockey is now set to ho head to head with Treasurer Chris Bown, at the National Press Club in Canberra.

About author

Libby Dreyer
Libby Dreyer 1729 posts

Libby has worked as a Senior Journalist at National Radio News since February 2011. She graduated with a Bachelor of Journalism from the University of Canberra in December 2010.

View all posts by this author →

You might also like


Crime agencies set to merge in federal budget: reports

Two of Australia’s major crime-fighting agencies look set to merge in the upcoming federal budget, in a bid to save million of dollars in government expenditure. The ABC is reporting


Aussie women star on Day 1 of the Commonwealth Games

Australia’s female athletes have starred on Day 1 of the Commonwealth Games, with the Aussies now second on the medal tally, behind England. Anna Meares has become Australia’s most successful

National 0 Comments

RBA expected to leave the cash rate on hold

The Reserve Bank of Australia is expected to keep the cash rate on hold today at 2.5 percent.

National 0 Comments

Morrison denies Australia delayed assisting asylum seekers

Immigration Minister Scott Morrison has rejected suggestions that Australian authorities took too long to respond to an asylum seeker distress call.


No Comments Yet!

You can be first to comment this post!