Labour trims new spending plans by $300 million a year

Mon, 25 Aug 2014

By Pattrick Smellie Aug. 25 (BusinessDesk) - The Labour Party has trimmed its new spending plans by about $300 million a year to take account of weaker economic forecasts and smaller Budget surpluses presented in last week's Pre-Election Economic and Fiscal Update, published by the Treasury. The main casualties of the policy, assuming a Labour-led government was elected and that its policy platform survived intact through coalition negotiations, would be the elderly, who would have to wait an extra six months to April 1, 2017, to be eligi...

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