Two days before the federal election, the Liberal Party has released its election costings.
Shadow Treasurer Joe Hockey and Shadow Finance Minister Andrew Robb held a 22-minute press conference in Melbourne to announce a further $9 billion in budget savings.
The centrepiece of the costings is a $4.5 billion cut in the growth of foreign aid that will be used to fund infrastructure.
“We are going to cut the growth in foreign aid,” Hockey said. “We can only afford to be generous to other nations if we have a stable budget at home.”
On infrastructure, “we are going for growth while living within our means,” Robb said.
The Coalition has released an 8-page document showing the fiscal impact of Coalition policies over the 4-year budget estimates.
Hockey was perspiring profusely as he announced the costings. The duo took only a handful of questions. The announcement came the day after the election advertising ban came into force and an hour after Prime Minister Kevin Rudd’s National Press Club appearance. Canberra press gallery journalists were not in attendance.
- Listen to Hockey and Robb (22m)
- Download the Coalition’s costings document (PDF)