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    Media Release H J Hockey Shadow Treasurer: ON OE

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    The document criticizes Wayne Swan for claiming government spending is low, pointing out that spending as a percentage of GDP under the current Labor government has been higher than the last year of the Howard government. Data from the 2012-13 MYEFO shows government payments as a percentage of GDP peaked at 26% in 2009-10 under Labor and will be 23.8% in 2012-13, above the 23.1% in 2007-08 under the Coalition. The total call on resources under Labor in 2011-12 was also the highest in modern Australian history at 25.7% of GDP.

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    Media Release H J Hockey Shadow Treasurer: ON OE

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    The document criticizes Wayne Swan for claiming government spending is low, pointing out that spending as a percentage of GDP under the current Labor government has been higher than the last year of the Howard government. Data from the 2012-13 MYEFO shows government payments as a percentage of GDP peaked at 26% in 2009-10 under Labor and will be 23.8% in 2012-13, above the 23.1% in 2007-08 under the Coalition. The total call on resources under Labor in 2011-12 was also the highest in modern Australian history at 25.7% of GDP.

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    The document criticizes Wayne Swan for claiming government spending is low, pointing out that spending as a percentage of GDP under the current Labor government has been higher than the last year of the Howard government. Data from the 2012-13 MYEFO shows government payments as a percentage of GDP peaked at 26% in 2009-10 under Labor and will be 23.8% in 2012-13, above the 23.1% in 2007-08 under the Coalition. The total call on resources under Labor in 2011-12 was also the highest in modern Australian history at 25.7% of GDP.

    Copyright:

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    Download as PDF, TXT or read online from Scribd
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    47 views2 pages

    Media Release H J Hockey Shadow Treasurer: ON OE

    Uploaded by

    api-44965945
    The document criticizes Wayne Swan for claiming government spending is low, pointing out that spending as a percentage of GDP under the current Labor government has been higher than the last year of the Howard government. Data from the 2012-13 MYEFO shows government payments as a percentage of GDP peaked at 26% in 2009-10 under Labor and will be 23.8% in 2012-13, above the 23.1% in 2007-08 under the Coalition. The total call on resources under Labor in 2011-12 was also the highest in modern Australian history at 25.7% of GDP.

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    MEDIA RELEASE THE HON JOE HOCKEY MP SHADOW TREASURER Wednesday, 6 February 2013 OH DEAR SWANNY.

    GET YOUR FACTS RIGHT!


    Wayne Swan claimed today in Question Time that his Government was low spending. Wayne Swan said: I think its very important that we have a debate about economic policy based on the facts and the facts are these expenditure as a percentage of GDP is the lowest its been in almost 30 years. (Wayne Swan, Question Time, 6 February 2013) Wayne Swan should check his facts before making such a bold claim because, once again, he is factually wrong. This year Labors spending will be 23.8% of GDP. In the last year of the Howard/Costello Government spending was just 23.1% of GDP. Labor never reaches this low level of spending through the forward estimates. Year 2007-08 (Last Budget of Howard/Costello) 2008-09 2009-10 2010-11 2011-12 2012-13 (e) 2013-14 (e) 2014-15 (p) 2015-16 (p) Payments (% of GDP) 23.1% 25.2% 26.0% 24.7% 25.3% 23.8% 24.0% 23.8% 23.7% (Source: 2012-13 MYEFO, p350)

    Wayne Swans total call on resources is the highest in modern Australian history. In the 2011-12 year the Governments total call on resources including taxes, borrowings and dividends - was nearly 25.7 per cent of gross domestic product. That is higher than in any year of the previous Coalition Government. [ENDS]

    Attachment A: MYEFO 2012-13 p350

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