More Budget Bad News

Stephen Conroy - Shadow Minister for Finance

Media Statement - 22 March 2002

Figures released today by the Minister of Finance show a large jump in the deficit confirming that the budget risks plunging out of control.

"The cumulative underlying cash balance is now at a deficit of $9 billion. This is proof of the Government's pre-election spending spree." said Senator Stephen Conroy, Shadow Minister for Finance.

"Before the election the Treasurer promised Australians that the budget would stay in surplus. These figures raise serious doubts about whether this will be achieved.

"The Finance Minister has once again waited until Parliament has risen to release these alarming figures. This is another instance of a Government desperate to avoid scrutiny and accountability," Senator Conroy said.