Peter Costello

Media Releases

Surplus

NO. 012

The statement today by Opposition spokesman Martin Ferguson that the Government ought to be thinking about digging into a surplus shows the ineptitude of Labor policy.

Last time Labor was in office it dug Australia into a $10 billion deficit.

Labor has not changed. It has learnt nothing. It's policy is still the same:- to spend money it doesn't have, to drive Australia into deficit, to run up debt, to push up interest rates, and put the economy into reverse.

Countries throughout the region are now intent on building budget surpluses to counteract loss of confidence and financial instability. Labor would take Australia down a path of deficit and debt and heighten its exposure at a time of regional instability. It is a policy of sheer irresponsibility.

CANBERRA
12 February 1998

Media contact: Niki Savva
Telephone: 02 6277 7340

12 Feb 1998

View more media releases …

Latest News

Paris Diary

Peter Costello Paris Diary

Read more …

PPI - Rising Role of Sovereign Wealth Funds

Peter Costello Rising Role of Sovereign Funds Speech

Read more …

The Hole Truth

Peter Costello in the Daily Telegraph

Read more …

Videos

Video Screenshot

Watch videos …