Monday, 18 March 2013

Budgetary Costings

Now that Wayne Swan has set up the Parliamentary Budget Office there is no excuse for an Opposition to not to have detailed costings.
The PBO can do this very easily for any policy position any party has.
 The Opposition has no need and nor should it release its costings until the PBO puts it imprimatur on it which would occur AFTER the release of the PEFO.

Wayne Swan has also got the PBO to lok at all parties costings and to release their findings after the election.

Unlike Peter Costello's effort re Charter of budget honesty this has been clearly thought through. The Charter of budget honesty was only an asset to the Government of the day. The Opposition was always at a disadvantage.
Now it is a level playing field because of the PBO.

It will be interesting to see how the opposition responds. They clearly and undeniably lied about their 'costings' in the last election.

We will also see if they recognise the economic circumstances of the day here in Australia. We already have a contractionary budget. With weak nominal GDP growth the last thing  needed is a more contractionary budget that at present.