Costello - Worlds greatest treachery

Jumpin' Jimmy

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Treasury backs Labor's tax costings

The federal Treasury has backed the costings of the main plank of Labor's tax package, contradicting a claim by the Treasurer, Peter Costello, that the Opposition's plan had a $700 million error.

Mr Costello said earlier in the campaign that he was prepared to stake his economic credibility on his claim to have found a $700 million "black hole" in the way Labor had accounted for the low income tax offset that it proposes to replace with its working tax bonus. The bonus would deliver an $8 a week tax cut to those earning less than $52,000.

But the Treasury costings of Labor's policy has contradicted Mr Costello's calculations.

A spokesman for the shadow Treasurer, Simon Crean, said last night that Treasury had vindicated Labor's economic caution and put the spotlight on Mr Costello's economic credibility.

"Peter Costello's big lie has been exposed by Treasury just in time for the people to decide," he said.

Labor said its working tax bonus and tax threshold increase for the top marginal rate would cost $2.6 billion in 2005-06, rising to $2.7 billion in the next two financial years.

Treasury estimated the cost to be about $2.5 billion a year - even less than Labor's estimate.

Mr Costello told ABC Radio on September 23 that he would stake his economic reputation on the claim to have found the $700 million shortfall.

Labor's finance spokesman, Bob McMullan, said the Treasury report damaged Mr Costello's credibility. "The Treasurer put his economic credibility on the fact there is a $700 million hole, and Treasury have said he is totally wrong. They have said not only is his arithmetic wrong, his whole conceptualisation of the issue is wrong. He must be humiliated."

Mr McMullan said Mr Costello's mistake showed what happened "when he doesn't have the Treasury department to hold his hand".
 

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butterflykiss

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#2
AS Joe Goebbels the Nazi said.
If you tell a lie big enough and keep repeating it, people will eventually come to believe it."
Sounds familiar doesent it Costello?
 

Jumpin' Jimmy

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butterflykiss said:
AS Joe Goebbels the Nazi said.
If you tell a lie big enough and keep repeating it, people will eventually come to believe it."
Sounds familiar doesent it Costello?
As in the ditty.........Goebbels, like Costello, had "no balls, at all"
 

agitator

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typical gullible fools, you have been sucked in again by the leftie media who only broadcasts it's own bias.

if you read the fine print you will see the labour didn't put all their policy in for costing, in other words the low sneaky dogs tried to pull the wool over your eyes.
 

BlueMark

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Then please explain Costello blowing 7.5 Billion in currency speculation a couple of years ago. More leftie bias or cold hard truth?
 

MightyFighting

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BlueMark said:
Then please explain Costello blowing 7.5 Billion in currency speculation a couple of years ago. More leftie bias or cold hard truth?
Anything critical of the conservatives is lefty bias, you know that.

BTW, Agitator, if the media is so left-wing, why are most newspaper editorials telling people to vote for Johhny?
 

tribey

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agitator said:
if you read the fine print you will see the labour didn't put all their policy in for costing, in other words the low sneaky dogs tried to pull the wool over your eyes.
'Fine print'?

The ALP - thanks largely to the Libs' smear campaign - has submitted more policy detail for costing than any other opposition in Australian history.

The only "sneaky dog pulling the wool over your eyes" is Costello.
 

crudbucket

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#8
BlueMark said:
Then please explain Costello blowing 7.5 Billion in currency speculation a couple of years ago. More leftie bias or cold hard truth?
paper loss only - it's since turned around with rate flcutuations...
 

Jumpin' Jimmy

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crudbucket said:
paper loss only - it's since turned around with rate flcutuations...
Turned around alright....... 360 degrees and bitten him on the arce.

Standby for the news many of the promised handouts and election bribes will be shelved, reduced or deferred due to unforeseen???? fuel price surges.
 

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Jumpin' Jimmy

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Howard's major election promises are null and void due to Operation Auxin.

All suspected hard-core commitments now require legal clearance by the Office of Film and Literature Classification (OFLC), and are subject to a two-year statute of limitations.

With the Senate finally under Coalition control they can now filibuster until the cows come home. By this time Honest John will have done the "Harold Holt".
 
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