By Andrew Bolt ~
The Australian Labor Party kissed the election goodbye three weeks ago when it promised – actually promised – to spend more and borrow more than even the Liberals over the next four years.
On Sunday Labor confirmed the size of disaster, revealing it would add an extra $101 billion to our debt over the next four years – $16.5 billion more than the Liberals.
Its figures also suggest it will tax us $12 billion more than the Liberals and spend $28.5 billion more. And that’s the problem right there: a massive addiction to spending.
That is where Labor threw away the election, gambling everything on the voters’ blind greed. It somehow believed it could buy its way to power by promising to spend more than the Liberals, tax more than the Liberals and borrow more than the Liberals.
So there are inherent problems with this mooted line-up for Labor’s post-defeat leadership contest
Former deputy Labor leader Anthony Albanese is considered the man most likely to throw his hat into the ring, but there have also been suggestions that another frontbencher such as Tanya Plibersek or Chris Bowen could put their hand up.
One MP in the party’s right faction, who backed Mr Shorten, said the right and the unions still backed him and there was a “consensus view that Bill has campaigned very well…”.
“A credible result, like 10 seats, is the margin for Bill. Below that, we will have something to talk about.”
In my Bolt Bulletin two weeks ago, I tipped Labor to pick up eight to 10 seats, which suggests trouble for Shorten’s leadership.
But if he does go, does Labor really think Bowen, the shadow treasurer, deserves to take his job after drafting such a terrible economic package? More profoundly, does Labor really think it should go even further to the Left with Albanese or Plibersek?
Albanese will have to do a Nixon-to-China and announce a commitment to fiscal conservatism and a return to the basics that made Bob Hawke so electable after years of mad Labornomics just like this.
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.