Labor leader Anthony Albanese outlines budget-saving measures in his speech to the National Press Club

A Labor government would drastically cut funding pools for community and regional grant schemes as part of a fiscal repair strategy, leader Anthony Albanese revealed during his address to the National Press Club.

Mr Albanese spoke to the National Press Club on Wednesday afternoon, saying a Labor government would inherit the “worst set of books” of any elected government since the Federation.

He unveiled a plan to cut $350 million from uncommitted funds in the Community Development Grant Program and return $400 million from the Regionalization Fund to the budget.

“These two decisions alone will fix the budget by $0.75 billion,” Mr. Albanese said.

“If I have the honor to be Prime Minister, it will be my mission – and my responsibility – to ensure that every dollar spent in the budget is used to stimulate productivity growth. We must pay down Liberal debt and deliver significant improvements in the quality of life for all Australians.

Recent Community Development Grant Program commitments by the Coalition Government include $15 million for a Hawthorn Football Club community centre, a park redevelopment at Fern Tree in southern Tasmania, a $1 million grant for the Eternal Flame at the Darwin Cenotaph and $12.5 million for the Sea Eagles Manly Center of Excellence.

Progressive think tank The Australia Institute published an analysis late last year which found that $3.9 billion spent on federal grant programs – including the Community Development Grant program – were skewed towards fringe Coalition seats at the expense of safe Labor seats and safe Coalition seats.

The cost-savings measures Mr Albanese outlined in his address give a glimpse of how Labor intends to pay for their policies if elected.

Labor has been under pressure to publish the costs of its election policies in recent days and is expected to provide those details on Thursday, just two days before Election Day.

Space to play or pause, M to mute, left and right arrows to search, up and down arrows for volume.

What is a hung parliament and how does it work?

Loading the form…

Post , update

About Christopher Easley

Check Also

Oregon man pleads guilty to destruction of Planned Parenthood property | Takeover bid

An Oregon man pleaded guilty today to twice smashing windows and destroying property at a …