Labor launches 'facts on debt' TV campaign

By Frank Chung | 25 July 2013
Kevin Rudd defends the government's economic record in 'The Facts on Debt'.

The Labor Party has unveiled another TV commercial, this time attempting to defend the government's economic record. The 30-second spot, 'The Facts on Debt', launched on free-to-air TV last night.

"We're hearing a lot from the opposition about Australia's debt," prime minister Kevin Rudd says. "You may be surprised to know that Australia's debt per capita is one of the lowest in the developed world.

"Ask yourself this: if our debt levels are so bad, why are we one of only eight countries in the world with a AAA credit rating, a stable outlook from all three credit agencies. These are the real facts, and no amount of negative political spin can change that."

In an email to Labor supporters last night, treasurer Chris Bowen issued a social media call-to-action, inviting people to share the video and graph on Facebook.

"When it comes to the economy, Tony Abbott and Joe Hockey will say and do anything to muddy the waters," he writes. "We need everyone to know the truth about how low Australia's debt is compared to the rest of the world."

Last week, the Coalition launched two TVCs of its own, one attacking Kevin Rudd's record during his first term as prime minister and one promoting its Real Solutions plan. Earlier it released two attack ads, 'Labor Chaos' and 'New Rudd Minister'.

Liberal Party federal director Brian Loughnane said in response to the ad: "Mr Rudd is in denial. Despite inheriting a $20 billion surplus, Labor's first five budgets have been record deficits, leading to the biggest increase in debt over a five-year period (both in dollar terms and as share of GDP) in modern Australian history.

"It was Kevin Rudd as PM who gave us cumulative deficits of $130 billion in just three years, including the biggest deficit in modern records (since at least 1970). Kevin Rudd's failure to acknowledge the seriousness of Labor’s addiction to deficits and debt again demonstrates the real choice at this election.

"This election is a choice between the Coalition that will pay off Labor’s debt, get the budget back to a real surplus and grow the economy or another three years of Kevin Rudd’s deficits and escalating debt."

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