By Andrew Bolt ~
Bill Shorten is the Leader of The Australian Labor Party, and Prime Minister Malcolm Turnbull leads the Liberal Party of Australia, the major party of the two Conservative Parties which make up the Coalition Government here in Australia…..TonyfromOz.
The Australian Labor Party on Wednesday copied the great Liberal Party con — the scam the media has fallen for that puts us on the road to Greek-style ruin.
It’s the 10-year promise that’s now the rage.
Both Labor and the Liberals say they’re gunna fix our finances but — oops — not for 10 years.
That means you have to vote for these shysters for four elections in a row before they’ll finally deliver.
By that time, of course, the country will be broke and Prime Minister Malcolm Turnbull and Labor leader Bill Shorten long retired. So why are so many serious people falling for this fraud?
Same story on Wednesday. There was Shorten announcing Labor “will fix the national Budget without smashing the family budget”.
But then came the catch.
No, this fixing of a Budget deep in the red wouldn’t actually happen over the next three years of a Shorten government, or even the first year of the one after.
As Shorten himself explained: “It is true that Labor will not have the same degree of fiscal contraction as the Liberals over this period.”
Let me translate. Remember how the Liberals in their May Budget actually promised to slap yet another $85 billion on to the credit card over the next four years? Shorten says he’ll spend even more borrowed billions.
But don’t worry, he says. His structural savings — like his changes to negative gearing — will then kick in and the Budget will be in better shape 10 years from now than it will be under the Liberals.
Labor “will deliver better and bigger structural Budget improvements over the decade”, he boasts.
Here, now, is the joke. The Liberals instantly noted the flaw in this brilliant plan.
As Finance Minister Mathias Cormann said: “We can’t trust Labor’s promises over a four-year period, how can we trust them over a 10-years period?”
Bull’s eye. But how can we believe the Liberals over 10 years, either?
Didn’t their Budget in May promise a backpackers’ tax that was scrapped just two weeks later?Didn’t Joe Hockey as the Liberals’ Treasury spokesman in 2013 promise “a surplus for every year of our first term”? And didn’t the Liberals instead give us huge deficits, including another $39 billion deficit this year?
And doesn’t the Turnbull Government — just like Labor — now promise yet another four years of deficits before we allegedly get to a surplus, one no serious economist believes in?
Don’t you believe it, either. That promise relies on an amazing jump in nominal growth, on a hostile Senate finally passing spending cuts it’s blocked for two years and on nothing going wrong with China or Europe.
Then there’s the other Liberal 10-year promises — especially its big tax cut for business — which mean we only get the goodies if we vote for Turnbull not only next month, but in 2019, 2022 and 2025.
Why have people swallowed this nonsense? Few believe politicians will deliver a promise even next year, but we’re meant to trust a promise over 10?
But these never-never promises are now the rage among politicians knowing they probably won’t be around when it’s time to pay.
Labor, for instance, promises to spend an extra $37 billion on schools over 10 years — without any sign it will have that cash.
Likewise, the most expensive part of the Liberals’ 10-year promise of a $48 billion cut to business taxes won’t kick in for five years — two elections away, when Labor could be in power instead.
And once a politician gets into this game, why stop at 10 years?
Hell, Labor now promises to make half of our electricity come from renewable energy 14 years from now — when none of its leaders will be around to admit this was insanely expensive and impossible. The Liberals are even promising 12 new submarines — built in Adelaide — that won’t be delivered in full for 50 years, when God knows if we’ll even need them.
Yet we fall for all this?
We must be mad. Our living standards have already dropped over the past two years, and the crisis in our finances is about to become acute in the next three, whoever wins.
Not only will budgetary reality bite over the next term, but the next government will almost certainly face a hostile Senate keen to say no to spending cuts but yes to handouts.
We are in danger, and the time for action is now. Not in 10 years. Now.
Andrew Bolt writes for the Herald Sun, Daily Telegraph, and The Advertiser and runs Australia’s most-read political blog. On week nights he hosts The Bolt Report on Sky News at 7pm and his Macquarie Radio show at 8pm with Steve Price.