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DID YOU KNOW: Peter Gutwein has never delivered a real surplus

  • RER shows the true scale of Mr Gutwein’s fiscal failures
  • “Surplus” propped up by Australian Government one-off grants

Shadow Treasurer Scott Bacon today called on the Treasurer to admit that he would never deliver a real budget surplus.

The Revised Estimates Report lays bare Peter Gutwein’s record of financial mismanagement.

“Mr Gutwein has staked his whole credibility on the delivery of surpluses,” Mr Bacon said.

“The inconvenient truth for Mr Gutwein is that he has never delivered a real budget surplus and the Revised Estimates Report shows he never will.

“The Underlying Net Operating Balance – which removes the distorting effects of one-off Federal Government funding – is in the red.

“The Budget was forecast to be just $4.5 million away from a surplus this year, but reckless election spending and warped priorities from the Liberals has seen it blow out to a deficit of nearly $165 million.

“Similarly, a  modest surplus of $11.1 million in 2021-22 has been transformed into a $135 million deficit.

“When the Budget was handed down, Labor said the Government wasn’t investing in people.  As his balance sheet worsens, this statement is only proven more accurate.

“Financial management is about priorities, and this Treasurer continues to put people last.”