Tuesday, 29 October 2013

Comparing Labor and Coalition borrowings in 2013

According to Liberal Senator Michaelia Cash on 14 August 2013; This year, Labor is borrowing $83 million per day.

On 3 September 2013 in a joint media release then Liberal shadow ministers Joe Hockey and Andrew Robb repeated this complaint;  Labor continues to borrow $83 million on average every day and posited Just imagine where debt will get to with another three years of Labor.

According to the Australian Office of Financial Management, since it was sworn in on 18 September 2013 the Abbott Government has borrowed an est. $265 million per day as of 29 October 2013.

Perhaps Treasurer Hockey and Minister for Trade and Investment Robb might like to explain why the Abbott Government is now borrowing at a higher rate than the former Labor Government if such debt is as bad as the Coalition has repeatedly asserted since 2007.

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