Peter Costello

Media Releases


NO. 012

The statement today by Opposition spokesman Martin Ferguson that the Government ought to be thinking about digging into a surplus shows the ineptitude of Labor policy.

Last time Labor was in office it dug Australia into a $10 billion deficit.

Labor has not changed. It has learnt nothing. It's policy is still the same:- to spend money it doesn't have, to drive Australia into deficit, to run up debt, to push up interest rates, and put the economy into reverse.

Countries throughout the region are now intent on building budget surpluses to counteract loss of confidence and financial instability. Labor would take Australia down a path of deficit and debt and heighten its exposure at a time of regional instability. It is a policy of sheer irresponsibility.

12 February 1998

Media contact: Niki Savva
Telephone: 02 6277 7340

12 Feb 1998

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