V.K.
April 16th, 2011, 02:10 AM
AUSTRALIAN BROADCASTING CORPORATION:
Opposition Leader Tony Abbott says the Federal Government is making excuses for delivering a tough budget next month.
The Government has been warning the federal budget will be hard, partly because of the rising damage bill from natural disasters over summer.
Yesterday Federal Finance Minister Penny Wong told Insiders there is about $4 billion less revenue than expected from individual and company taxes.
But Mr Abbott says this year's tax revenue does not affect future budgets.
"That impacts on the current financial year, it doesn't impact on the next financial year, so that's just an excuse," he said.
Mr Abbott says if the Government had not wasted money, it would not need a tough budget.
"If they hadn't blown $2.5 billion on roof batts that catch fire, if they weren't blowing more than a $1 billion a year extra on border protection, if they weren't wasting money, there'd be no need for a tough budget," he said.
For weeks the Government has been warning that its budget, due out next month, will be tough and unpopular.
Senator Wong says personal income tax is lower across the board.
"That includes capital gains, which probably reflects what's happened in the share market, which hasn't fully recovered from the GFC," she said.
Labor made a series of commitments to crossbench MPs as part of its negotiations to form government.
And Senator Wong says the budget will still fund these promises, despite being short on revenue.
"Some of them we've already delivered," she said.
"They were delivered in the November MYEFO, the Mid-Year Economic and Fiscal Outlook, and we will deliver further commitments to the independents in the budget."
Greens MP Adam Bandt says what the Government does will indicate what its values are.
He says the Greens are still discussing the budget with the Government.
"I understand there's another meeting of the expenditure review committee that's happening during the course of this week," he said.
"But I look forward to seeing the final shape of the budget, because I think it will be indicative of where the Government's values are."
http://www.abc.net.au/news/stories/2011/04/10/3187252.htm
Australia spends four billion dollars each year on foreign aid. The loss of tax revenue can be compensated via cancelling the foreign aid programme.
Opposition Leader Tony Abbott says the Federal Government is making excuses for delivering a tough budget next month.
The Government has been warning the federal budget will be hard, partly because of the rising damage bill from natural disasters over summer.
Yesterday Federal Finance Minister Penny Wong told Insiders there is about $4 billion less revenue than expected from individual and company taxes.
But Mr Abbott says this year's tax revenue does not affect future budgets.
"That impacts on the current financial year, it doesn't impact on the next financial year, so that's just an excuse," he said.
Mr Abbott says if the Government had not wasted money, it would not need a tough budget.
"If they hadn't blown $2.5 billion on roof batts that catch fire, if they weren't blowing more than a $1 billion a year extra on border protection, if they weren't wasting money, there'd be no need for a tough budget," he said.
For weeks the Government has been warning that its budget, due out next month, will be tough and unpopular.
Senator Wong says personal income tax is lower across the board.
"That includes capital gains, which probably reflects what's happened in the share market, which hasn't fully recovered from the GFC," she said.
Labor made a series of commitments to crossbench MPs as part of its negotiations to form government.
And Senator Wong says the budget will still fund these promises, despite being short on revenue.
"Some of them we've already delivered," she said.
"They were delivered in the November MYEFO, the Mid-Year Economic and Fiscal Outlook, and we will deliver further commitments to the independents in the budget."
Greens MP Adam Bandt says what the Government does will indicate what its values are.
He says the Greens are still discussing the budget with the Government.
"I understand there's another meeting of the expenditure review committee that's happening during the course of this week," he said.
"But I look forward to seeing the final shape of the budget, because I think it will be indicative of where the Government's values are."
http://www.abc.net.au/news/stories/2011/04/10/3187252.htm
Australia spends four billion dollars each year on foreign aid. The loss of tax revenue can be compensated via cancelling the foreign aid programme.