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Federal election 2022: Anthony Albanese releases Labor’s costings two days before polling day

Labor will spend $7.4 billion on its election commitments over the forward estimates according to costings documents released today.

Shadow treasurer Jim Chalmers and shadow finance minister Katy Gallagher today released the costings two days out from polling day, while Labor leader Anthony Albanese travelled to Brisbane.

The fiscal document shows Labor will actually spend $8.4 billion more than the Government over four years.

In the Coalition costing document released on Tuesday, it revealed a spend of $2.3 billion, and a saving to the budget bottom line of $1 billion.

The Coalition budget bottom line is $223.5 billion over the forward estimates, while Labor’s budget bottom line is $231.9 billion.

READ LABOR’S COSTING DOCUMENT IN FULL

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The costings document stated the policy commitments “will have a net aggregate impact of $7.4 billion over the forward estimates compared to the underlying cash balance outlined in the 2022 PEFO”.

“Labor’s election commitments are measured and modest compared to the Government’s commitments in the election period (2021 MYEFO, 2022 Budget), which total $45 billion and $39 billion respectively,” the document states.

“The difference between Labor and the Government’s budget positions is a clear statement of the choice at this election: an Albanese Government will deliver a Better Future with cheaper child care, cheaper and cleaner energy and a better trained workforce.”

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