The Budget irresponsibly squanders the opportunity to secure Australia's future prosperity, according to Labor's Shadow Treasurer Wayne Swan.

He says it fails to set out a plan to invest unexpectedly strong revenue, from record terms of trade and generally strong economic conditions, in the key drivers of growth — that is irresponsible.

Wayne Swan says the Budget fails to put downward pressure on inflation and interest rates, and squanders the opportunity to address our urgent economic challenges.

He says a responsible Budget would have invested in our infrastructure needs and training for Australian workers, and provided genuine incentive in the tax system.

The full statement by Wayne Swan, Shadow Treasurer, is available here: An Opportunity Irresponsibly Squandered

Labor Budget Attachments (170KB PDF file)