Isra-Mart srl : Budget shot without carbon tax

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Isra-Mart srl news:

THE federal budget won't be worth the paper it's printed on if it doesn't include all the details of Labor's carbon tax, federal Opposition Leader Tony Abbott says.

Mr Abbott says in about four weeks the 2011/12 budget papers will be in the printing process.

"If those budget documents do not contain all the details of the carbon tax, the budget will not be worth the paper that it's printed upon," Mr Abbott told reporters in Sydney on Monday.

"This is an important budget.

"It's important that this government gets it right, but any budget without the carbon tax is a budget with a hole at its heart."

Shadow treasurer Joe Hockey, who joined Mr Abbott at his media conference, said the carbon tax and the mining tax were slated to start on the very same day in 2012.

"The mining tax will be in the budget, the carbon tax will not be in the budget," he said.

"This illustrates the fact that the government simply is not going to deliver a credible budget on budget night."

Mr Hockey said the government would be forced to omit the carbon tax in next year's budget because it will fail the benchmarks Labor set as part of its fiscally responsible approach.

Mr Hockey went on to attack Treasurer Wayne Swan for revealing up to a $4 billion fall in tax revenue, which he said only addresses shortcomings in the current 2010/11 budget.

"He can run all the spin and trickery he wants at the moment but what we do know is that the budget deficit this year will be larger than anything they have forecast," he said.

"He has not until now released any of the data about company tax or personal income tax receipts for budget night and the next three years after that."