O'Dowd slams budget

THE 2012-13 Federal Budget has been labelled a dud by Federal Member for Flynn Ken O'Dowd.

"It's a confused budget. All it delivers is more borrowing, more taxes, record debt - and the world's biggest carbon tax," he said.

Mr O'Dowd criticised the level of debt forecast in the budget.

"We will see net government debt climb to a record in 2013-14. That is an increase of almost $40 billion since last year's budget," he said.

"And by 2015-16, the government will be spending over $8 billion a year or around $22 million a day on interest payments alone.

"We are now paying the price for Labor's four record deficits, which together total $174 billion."

Mr O'Dowd said he was concerned by a forecast rise in unemployment to 5.5%.

"Last year's budget promised 500,000 new jobs over two years, but the government now expects to miss its target by 300,000 jobs. Meanwhile the government is cutting $200 million out of jobs services programs."



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