Labor Reveals Policy Costing, Promising ‘Best Bang For Buck’

Labor's long-awaited policy costings have been unveiled ahead of Saturday's election, promising ‘Best bang for buck’.

Shadow Treasurer Jim Chalmers and Shadow Finance Minister Katy Gallagher today released the costings, while Labor leader Anthony Albanese travelled to Brisbane.

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The Opposition's commitments if elected, would cost about $7.4 billion more than promised by the Coalition.

Labor's said its election commitments are "measured and modest" with a guarantee to cut waste and mismanagement.

"Where you get the best bang for buck is in areas like childcare, like training, like energy and that’s what we’ve gone for here," Mr Chalmers said.

"Our investment are a fraction of what the Liberals and Nationals have rorted and wasted. Our investments are a fraction of what the Liberals and Nationals added at the last budget and at the last media update as well"

"The modest $7.4bn difference between the two budgets is made up of key investments in childcare, investments in training and education, and investments in cleaner and cheaper energy," the Shadow Treasurer pointed out.

Mr Chalmers also said that Labor would inherit some of the "trickiest economic conditions" that any government has inherited since World War II, including $1 trillion of debt.

Meanwhile, speaking from Queensland, Mr Albanese said the extra spending “is based upon the three big things that we will do to produce an economic dividend”.

"Those three investments [are] our childcare that will boost both productivity and women’s workforce participation," he said.

"Skills and training – 465,000 fee-free Tafe places and 20,000 additional university places that will help to deal with the skills crisis."

"Our clean energy policies that will end the climate wars, that will result in $52bn in private sector investment, that will result in some 604,000 new jobs created, five out of every six of them in regional Australia," Albanese added.

Wrapping it up in layman's terms, Mr Chalmers said “The choice at this election is clear, a better future or more of the same”.

“A more responsible budget, stronger economy, and a better future under Labor."

- Mr Chalmers

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