Shadow treasurer Angus Taylor addressed the National Press Club about the Budget and the election. Photo: Michelle Kroll.
Shadow treasurer Angus Taylor says Labor has wasted $100 billion in government and the Coalition is determined to reverse that, while adding that most public service jobs to go will be by natural attrition.
Speaking at the National Press Club on Wednesday (2 April), Mr Taylor said the Opposition had identified the areas where it believes spending was not needed, and is keen to get about changing the situation.
“We have highlighted key programs, not essential services, that we’ll wind back in government to reduce pressure on spending,” he said.
The shadow treasurer shed little light on what programs the Coalition would axe in government, but instead expanded on sections of Opposition Leader Peter Dutton’s budget reply speech highlighting new measures.
“On Thursday, Peter Dutton announced four bills that will be introduced on our first day of parliament,” Mr Taylor said.
“The energy price reduction bill; the lower immigration and more homes for Australians bill; the keeping Australians safe bill; and the guaranteed funding for health, education, and essential services bill.
“The Coalition will introduce the Securing Australia as a Financial Centre Bill within 100 days.
“This Bill will legislate key financial services reforms that Labor has failed to prioritise – ranging from payments system reforms, digital assets regulation and restoring our financial advice profession.
“Our financial system is the nervous system of our economy. At its best, it supports Australians to fulfill their dreams and realise their aspirations.
“This will unlock our financial sector and make it easier for Australians to afford a home, plan their retirement, and start a business.”
The shadow treasurer said the Coalition’s costings would be released before election day and will also show how and where 41,000 public service jobs will be cut from Canberra.
“I’m not going to go through the sausage-making process that is the reality of doing these things, other than say that the team’s been working hard for a long time, and you’ll see the costings in good time, and you’ll be able to assess them and evaluate them,” he said.
On public service jobs, Mr Taylor said natural attrition would account for most of the losses, but he wouldn’t rule out redundancies.
“The important point about this is the public service has got so big under Labor that the attrition numbers are high now,” he said.
“I mean, you naturally have higher attrition if you’ve got more people because people leave to go and do other things.
“And it’s not a bad thing that a certain proportion of public servants each year go off to the private sector and do other things and then hopefully come back with some of the experience they’ve learned from the private sector.
“I think by having a capital city that’s detached from some of the commercial centres we have here in Australia, there’s probably less of that than I think would be healthy; it would be good to see more of it.
“And that’s why the head and deputy head of Investment Australia will be looking to bring in some private sector expertise into that team from day one.”
Mr Taylor’s speech was the traditional opportunity afforded shadow treasurers to give their reply to the government’s budget.
His, however, was scheduled before the federal election was called.
Keeping the commitment required him to pull out of his own local campaigning for a day but also allowed him a prime platform for electioneering.
Just like Treasurer Jim Chalmers’ delivery of the Federal Budget and Mr Dutton’s Budget Reply, Mr Taylor’s speech was very much an election address.
He stressed that this election was all about the economy, which is “ultimately” about people.
“One of the great privileges of being shadow treasurer is travelling across the country and meeting Australians from all walks of life,” he said.
“Across the country, people are being let down by a government with the wrong priorities and no plan to restore prosperity.
“Too many Australians I meet feel there is no light at the end of the tunnel.”
Mr Taylor said the government failed the three tests the Coalition set for the Budget, which were to restore the standard of living and get inflation down sustainably, to restore a pathway for prosperity for all Australians, and to restore budget discipline and honesty.
“The Budget, again, like previous budgets, failed those tests and in doing so, failed Australians,” he said.
“It was a Budget for re-election, not the future of our great nation.”
