2 May 2016

When was our real deficit born. Look no further than Howard and Costello.

The ALP had to deal with the GFC, however you won't hear the LNP mention it, or tell us how they would have handled it but we do know that we're all paying for the largess of previous LNP policies.

And now they are telling us they are the best money managers.

From the 2005 budget to the 2007 election, prime minister John Howard and treasurer Costello announced an eye-watering $125 billion in income tax cuts.

Cuts to both the rates and thresholds saw income tax fall as a share of the overall tax burden to its lowest levels since the 1970s. To this, Howard and Costello added new superannuation tax exemptions and a massive boost to the Family Tax Benefits scheme.

Smart managers, really? This is what you get when you want to buy an election win, short term gain for long term pain.

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