Shambles Alert: $107 million Omnibus black hole

31 August 2016

Scott Morrison has been humiliated in Question Time again today by revelations of a $107 million black hole in his Omnibus Savings Bill.

We now know the Treasurer has been demanding Labor’s support for a Bill that doesn’t even add up.

Item 11 on Page 5 of the Bill’s Explanatory Memorandum claims a saving of $405.6 million dollars from changes to student start-up scholarships, when the sum total of the savings per year actually adds up to $298 million.

Then asked about this in Question Time, Scott Morrison said:

The Bill that we put forward in this house today has more than $6 billion worth of expenditure savings. That is what it says.”

This morning, when introducing the legislation, he said:

“This Bill containing 24 measures and totalling more than $6 billion in savings.”

And then in the Treasurer’s media release on the legislation, he says:

“The 24 measures contained in this Bill were announced in our last term and will give effect to savings of more than $6 billion over the Budget and forward estimates.”

Given the year-on-year numbers for the student start-up scholarship measure in the table add up to $298 million and not $405.6 million, that then brings the total savings below $6 billion.

The Treasurer needs to urgently clarify in the House whether in fact the $298 million or $405.6 million total is correct.

This is another embarrassing shambles from a Treasurer who’s just not up for the task of Budget repair.

It’s the latest indictment on a Turnbull Government that stumbles from one stuff-up to the next.