15/2008
13 May 2008
The Rudd Government’s ‘Razor Gang’ has delivered $33 billion in cash savings over four years, including $7.3 billion in 2008-09, to help fight inflation by cutting the wasteful, election-driven spending of the previous Government.
The Government has identified $5.7 billion in savings in 2008-09 since the election, including $3.8 billion in program cuts, adding to the $1.6 billion identified during the election campaign and reducing real growth in government expenditure from 5.2 per cent in 2007-08 to 1.1 per cent in 2008-09.
The Government has better targeted government assistance, cut ineffective programs and delivered a more efficient government through measures such as:
Minister for Finance and Deregulation, Lindsay Tanner, said “This is a Budget for working families. We’re keeping our election promise to reduce inflationary government spending, while providing tax cuts for working Australians hit hard by rising living costs.”
“We’ve trimmed the fat from this budget and will use the savings to invest for the future, tackling long-term challenges like climate change, infrastructure bottlenecks and skills shortages,” Minister Tanner said.
“This is the end of short term irresponsible spending and the beginning of long term responsible investment,” he said.
Ensuring value for money for Australian taxpayers will be an ongoing objective of the Rudd Labor Government. Work on the second stage of the Razor Gang has already started in the Department of Finance and Deregulation.
“The Rudd Labor Government has delivered a tight, well-managed budget that focuses on practical solutions to immediate problems and long-term planning and investment for future challenges,” Minister Tanner said.
An analysis of pre and post election spends and saves is attached.
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