Finance Minister Mathias Cormann has been caught out lying to the Australian public in an attempt to cover up the Government’s poor management of Australia's finances. 

In a statement on the Consolidated Financial Statements Senator Cormann attributed deficit figures in the 2013 Mid-Year Economic and Fiscal Outlook (MYEFO) to Labor’s 2013/14 Budget.

This is patently wrong and shows the Finance Minister is either misleading the public or doesn’t understand his own portfolio. 

The 2013 MYEFO includes Joe Hockey’s doubling of the deficit and an unsolicited $8.8 billion payment to the Reserve Bank - $1.2 billion of which was taken back is a dividend in the 2014 Budget.

The Pre-election Economic and Fiscal Outlook (PEFO) is the true state of Labor's books as independently verified by the public service, and the 2013 MYEFO was the new Government’s first Budget statement, demonstrated by the fact that Joe Hockey and Mathias Cormann’s signatures adorn the 2013 MYEFO front cover.

It’s time Joe Hockey and Mathias Cormann started taking responsibility for Australia’s finances.

Senator Cormann is clearly under a lot of pressure carrying the workload of two people while also having to mop-up every time Joe Hockey blunders through a TV interview.

Today Mr Hockey claimed the answer to the Government's unfair Budget was “more marketing.”

It’s not the spin that’s the problem Mr Hockey; it’s your broken promises and your unfair Budget.

No amount of slick marketing will convince Australians that this Budget is fair or delivering on the promises Tony Abbott made at the last election.

Tony Burke