The Labor party has announced its policy costings, which are expected to put a $7.4 billion (US$5.19 billion) dent in the federal budget over the next four years if the centre-left political party wins the election on May 21.
More specifically, the promises made by Labor during the six-week election campaign will cause the budget deficit for the 2022-2023 financial year to rise to $79.1 billion.
In comparison, the departments of Treasury and Finance forecast a $77.9 billion budget deficit in the early days of the election campaign.
Shadow Treasurer Jim Chalmers said investing in childcare, training and education, and cleaner and cheaper energy would be a focus for a Labor government….
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