Turnbull attacks on debt and deficit

The opposition is already road testing its central strategy for the next Federal election.

That is attacking the Rudd government over its debts and deficits.

Malcolm Turnbull pressed the issue again yesterday, when Federal parliament resumed its debate on the government’s second budget.

The Opposition Leader said Kevin Rudd must tell the Australian people just how big the government’s debt was likely to be.

Mr  Rudd said gross debt would peak at $300 billion.  The government has already admitted that it will produce a deficit of more than $53 billion in the new financial year.

There were cries of “hear, hear” from opposition benches, as Mr Rudd gave that debt figure.

The Treasurer, Wayne Swan, admitted later, though, that gross government debt could reach $315 billion

The next Federal election is not due until late next year.

But the opposition could seek to force an early election, by trying to block or even delay the budget in the Senate.

The government does not have the numbers it would need to be sure of getting its budget through the upper house.

Two independents hold the balance of power in that critical chamber.

However, it is still far from certain, at this stage, that the opposition will seriously try to block the budget.

Recent opinion polls certainly show that the government has lost some ground with voters.

But, at the last count, the government was still in a strong position, electorally.

So the conservative opposition would be taking a very big risk, if it pressed for an early election, too soon.

And the government does have, at least,  a plausible reply.

Wayne Swam. for example, accused the Coalition yesterday of mounting  a fear campaign, that is damaging both confidence and the economy.

And, on present figures, the government would probably win an early election, if one was held soon.

Several opposition backbenchers, encouraged by the Coalition’s early successes, are eager to try their luck.

Cooler MPs, though, are warning that the Coalition could deprive itself of a real chance of winning the next election, by moving too soon.,