5 Sep 2013

Australian opposition finally releases costings on promises

7:49 pm on 5 September 2013

The Coalition in Australia has just released the costings of its election campaign promises but the Labor Party is accusing it of having delayed the release to avoid scrutiny of its numbers, just two days before the election.

Both parties have spent the election campaign accusing the other of using dodgy figures and Labor has said the Coalition's plans can only be achieved by making big cuts to spending on health and education.

Shadow treasurer Joe Hockey says the Coalition has identified total savings of $A40 billion to pay for its promises and to help get the government's books back into surplus.

Mr Hockey says under the Coalition the Budget balance will improve by $A6.4 billion and $A16 billion will be cut from government debt compared with Labor's plan.

It will partly achieve the savings by cutting $A4.5 billion from foreign aid costs.

He also gave assurances that there would be no cuts to spending on hospitals, schools, defence and medical research.