Budget Honesty Legislation provides an honest assessment: Fraser

04 December 08

New legislation which will independently cost policy proposals before elections will be introduced to parliament early next year.

Treasurer Andrew Fraser said Cabinet had approved the preparation of Charter of Budget Honesty legislation.

Mr Fraser said the new legislation would provide for independent evaluation of policy costings by both the government and the opposition.

“It will adopt the framework of the federal Charter legislation, and provide for the Treasury to independently assess policy costings.

“The Bill will require a full update of the forward estimates for the Budget by the Under Treasurer to be presented before election day.

“Economic and financial management has always been a priority for our government. As we head in to 2009, the people of Queensland will be placing a premium on demonstrated proof that policy proposals are properly costed to assess their affordability.

Mr Fraser said following the passing of the legislation, the task before both government and opposition would be to account for their election commitments.

“I have already tabled a dossier which sought to tally up the opposition’s stream of uncosted and random promises. Here is the challenge for them to do it during an election – the opportunity will now be available.

“No more thought bubbles, no more don’t you worry about that costings. Through this bill, governments and alternative governments alike will be subject to the same process.

Mr Fraser said that under the proposed new legislation treasury officials would be prohibited from providing advice to either the Government or opposition in relation to the policy settings after an election had been called.

“Their assessment will be appropriately limited to an assessment of the costings provided for a policy proposal.

“The costings of election commitments will be released publicly by the Under Treasurer as soon as possible after a policy costing has been provided.

“Now more than ever, it is essential Queenslanders have this information before casting their vote. I have every reason to expect the support of the Opposition in the passage of this bill, and their support for submitting their policies for independent assessment by the Treasury.’’

Contact: Treasurer’s office 3224 6361 or 3224 5982