Labor attacks Coalition hypocrisy on debt and deficit

The sheer hypocrisy and double standards of the Abbott Government is now commonplace in Australian politics. In reference to the Government’s much maligned Federal Budget, the Australian Financial Review recently printed a damning article titled: “Abbott loses the plot on debt”. The reason for this was when he was Opposition Leader, Tony Abbott called a debt to GDP ratio of 13% a “debt and deficit disaster”. However, according to him as Prime Minister, a debt to GDP ratio of 50-60% – under his watch – is apparently “a pretty good result”.

In response to this outrageous statement by Tony Abbott, Labor’s Treasury spokesperson went on the offensive with this cutting speech in Parliament:-

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