There is no graph in the Intergenerational Report that represents the state of the Budget under Labor.
The Intergenerational Report states:
“The scenario ‘previous policy’ shows fiscal projections associated with the set of policies in place prior to the 2014-15 Budget.”
This includes decisions made by Joe Hockey in the 2013-14 Mid-year Economic and Fiscal Outlook.
SENATOR SUE LINES: I just want to focus on the ‘previous policy’. What policy is included in the baseline? Can you tell us?
DEPUTY SECRETARY, NIGEL RAY: It’s the policy that was as at the 2013-14 MYEFO.
SENATE COMMITTEE HEARING – 18 MARCH 2015
In the 2013-14 MYEFO Joe Hockey doubled the deficit, adding $68 billion.
In the 2013-14 MYEFO Joe Hockey made an $8.8 billion payment to the Reserve Bank of Australia.
It’s about time this Government started taking responsibility for its own Budget chaos.
For weeks senior public servants have been saying that the Intergenerational Report is not an independent document.
TREASUERY SECRETARY JOHN FRASER: I’m secretary of the Treasury, I take responsibility or leadership for the Treasury input into the IGR, which is of course a document of the Treasurer.
NIGEL RAY: All of the key elements of the IGR are ultimately matters for the Treasurer.
SENATE ESTIMATES – 25 FEBRUARY 2015
The Pre-election Economic and Fiscal Outlook is the true state of Labor's books as independently verified by the public service under Peter Costello’s Charter of Budget Honesty.
The politicisation of the Intergenerational Report completes the Abbott Government’s trashing of Peter Costello’s Charter of Budget Honesty.