Another Broken Promise: ACT Labor Delivers the Biggest Deficit in Territory History

‘We will not take the budget into deficit in any year.’ (Jon Stanhope, Canberra Times, 26 September 2008).

Today’s Pre-Election Budget Update shows ACT Labor has dragged the Territory’s Budget $381.1 million into the red, ACT Shadow Treasurer Brendan Smyth said today. Mr Smyth said this is the biggest deficit in Territory history, delivered by a government which cannot be trusted on numbers.

“Four years ago, almost to the day, Jon Stanhope promised ACT Labor would ‘not take the budget into deficit in any year,’” Mr Smyth said today.

“Today, Andrew Barr has handed down the biggest deficit in Territory history.

“This is a government which can’t be trusted to manage the ACT economy or tell the truth about numbers. They have no financial credibility left and have to go.

“A Canberra Liberals Government would manage taxpayer money wisely to give them better local services and lower rates and charges.

“In stark comparison, ACT Labor is taxing Canberrans more than ever before and giving them poorer services than ever before, including the worst health system in the country and shockingly managed infrastructure projects which have blown out in cost by hundreds of millions of dollars.

“Today’s historic deficit is the cumulative effect of 11 years of economic mismanagement by ACT Labor, and only a change of government will get the Territory’s finances back on track,” Mr Smyth concluded.