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Living within our means: lessons from Cyprus

By Julie Bishop - posted Thursday, 21 March 2013


One of the great failings of the Gillard Government is its inability to curb spending.

From zero government debt to gross debt nearing $300 billion, the government has no plans to repay it.

The Gillard Government will be remembered as the most profligate and wasteful custodian of the Federal Treasury in Australian history.

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This has made our nation more vulnerable to any shocks that could potentially come from a worsening of the European debt crisis.

The burden of paying down Labor debt will once more fall on the shoulders of a future Coalition government.

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Julie Bishop is the Federal Member for Curtin, Deputy Leader of the Opposition and Shadow Minister for Foreign Affairs.

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