Stephen Jones reveals how Labor’s Budget 2022-23 will ‘crush the myth’

As Labor prepares to prove it can manage the economy, the Assistant Treasurer has cautioned Australians not to expect ‘handouts’ as the government seeks to find a ‘path back to surplus’.

Labor will hand down its first budget in nine years on Tuesday and it has been heralded as a chance to “crush the myth” they lack the skills to manage the economy.

Assistant Treasurer Stephen Jones rejected NSW Treasurer Matt Kean’s assertion the Federal Government was favouring red states when it came to transport and infrastructure spending.

The Feds have already earmarked almost $10 billion in infrastructure funding with nearly half of that allocated to projects in the Labor-held states and territories of Victoria, Queensland, South Australia and the Northern Territory.

However, Mr Jones said there were other factors holding back increased infrastructure spending in NSW while adding the state would not be on the wrong end of a “raw deal”.

Assistant Treasurer Stephen Jones said Labor would seek to find a “path back to surplus”.

Treasurer Jim Chalmers will deliver his first Budget next week. Picture: Jonathan Ng

“Over the next 12 months we have massive capacity restraints for infrastructure projects in NSW,” Mr Jones said at his office in Shellharbour.

“We could triple the amount of money we’ve allocated to infrastructure in NSW and we wouldn’t be able to spend it because we don’t have the labour and we don’t have the raw materials.

“NSW will get a very good deal and we are working well with the NSW Government in the western Sydney air project and transports links to and from there and other commitments.

“I don‘t think anyone will be able to say NSW got a raw deal and that we are not doing everything that can be done in NSW.”

Mr Jones highlighted Labor’s commitments around childcare, aged care and slashing Pharmaceutical Benefits Scheme as measures “the people of the Illawarra and around the country will enjoy”.

Election promises including a new sports precinct in West Dapto, funds for the Southern Highlands Botanical Gardens and Regional Art Gallery and community batteries in Warrawong and Dapto will be fulfilled in the budget the Whitlam MP confirmed.

He also said the long-awaited $25 million allocated to the Illawarra Women’s Trauma Recovery Centre will “start to flow” after Treasurer Jim Chalmers delivered the October 25 budget.

Mr Jones, however, cautioned Australians against expecting to receive “handouts” during a challenging economic period globally while lambasting the ousted Coalition for “cooking the books” and leaving the country in more than a trillion dollars in debt.

“People should not expect this will be a budget full of handouts because it won‘t,” he said.

“The worst thing we can do for the economy in the Illawarra or around the country is write billion dollar cheques.

“That would just blow the inflation problem up and we‘re not going to do it.

“Over the past five months, in fact since day one after the election, we have been looking at ways we can cut the waste and the rorts out of the budget to find savings and chart a credible path back to surplus while providing support to households during difficult times.

“This is an opportunity for us to crush the myth that the Coalition are good economic managers when they have left the budget in a mess, a trillion dollars worth of debt, wasteful spending and over $6 billion-worth of unfunded programs.

“They were cooking the books, trying to make things look better than they actually were while running around saying they were great economic managers.

“You can‘t run around pretending to sprinkle growth dust and pretending it’s going to make the deficit go away – Scott Morrison misled the Australian people.”

Originally published as Stephen Jones reveals how Labor’s Budget 2022-23 will ‘crush the myth’