Sky News Australia hosts, Paul Murray and Andrew Bolt have slammed the Albanese Government’s first Federal Budget while former Labor Cabinet minister Stephen Conroy backed the key fiscal statement.
The heated debate came moments after Treasurer Jim Chalmers handed down Labor’s first budget in almost a decade on Tuesday night.
Dr Chalmers unveiled several government spending initiatives to help ease cost of living pressures and rising inflation, including cheaper childcare, changes to parental leave, cheaper medicines and more affordable housing.
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Mr Conroy said he was “excited and proud” to see the Budget being handed down by Dr Chalmers.
“It focuses on issues that go to the core of why the Labor party exists,” he said.
“It’s about helping to begin the repair of the waste and indolence of the last 10 years.
“This is delivering Labor’s priorities, and at the same time, being fiscally responsible.”
Murray weighed in, arguing the assumptions made inside the budget were a “house of cards” pointing to forecasts of inflation hitting 7.75 per cent this year followed by rapid decreases at the same time that enery prices continue to soar.
“Jim Chalmers had one chance to make a first impression and he blew it….now it gets worse before it gets better,” he said.
“How can we have a scenario where inflation is going to peak in the high seven’s, and then magically within 12 months, is going to fall to half that number and then lower after that…while at the same time power prices go up by 50 per cent in the next two years.”
Bolt jumped in, also slamming Labor’s budget spending and agreed with his fellow Sky News Australia host’s comments.
“They’re going to spend $181 billion more than they earn in the next four years,” Bolt said.
“There’s not even a promise…to try and balance the books…I think it’s away with the fairies.
“There’s no sign of a budget surplus in four years, five years, six years, anytime soon.
“It’s based on rosy assumptions. It spends and spends…leaving absolutely nothing in the cupboard for a rainy day.”
Mr Conroy hit back, saying “I don’t agree with Andrew” and blamed the previous government for the financial situation left behind.
“This is an improvement on what was being forecast just six months ago by the Liberal Party,” he said.
“Andrew’s description would lead the economy into freefall.”
Source: Sky News
