NSW One Nation Leader Mike Newman has challenged Labor to reveal the full cost of its Net Zero agenda before demanding One Nation submit its policies for costing.
Mr Newman, who has three decades of experience as a financial analyst, said Labor should start by explaining its own failed financial assumptions.
“Labor demands our costings but won’t show the public its own Net Zero bill,” Mr Newman said.
“I’m more than happy to help Labor with their costings since they are getting everything wrong and have NSW in record debt.”
“I will not take advice from Australia’s worst economic managers. I will be happy to sit with them and go through every line item. We will find out very quickly why Labor continues to stuff up their assumptions by billions of dollars.”
He pointed to a consistent pattern of NSW projects being overspent by billions of dollars.
In 2023 Labor submitted its public sector wages policy to the PBO claiming there would be “no budgetary impact.” However, current estimates show they will spend about $6.6 billion more on public sector wages in the five years to June 2028, on the current trajectory.
Over the past decade major projects have blown out by around $30 billion between original costings and current projections for transport projects such as Metro West, Metro Southwest, WestConnex and CBD light rail.
Mr Newman said that if One Nation were given access to the PBO, its only request would seek a comprehensive assessment of the direct costs, flow-on costs, and forgone government revenue associated with the Minn’s Labor Government’s Net Zero policies.
“Our only request will be what is the total cost of Net Zero to the NSW Budget? Unless the PBO can provide a comprehensive response then One Nation will not be lectured.”
“Labor says renewables are cheap but they hide their true cost, including the extra bureaucrats, property acquisitions, biodiversity offsets, transmission lines, and what higher energy prices and construction materials add to the cost of building roads, schools, and hospitals.”
“They also don’t cost the lost opportunity. For every year a viable mine or major investment is delayed by Net Zero requirements, what royalties and tax revenue does government miss out on?”
“NSW is rich in resources. We should be unleashing that wealth, not tying one hand behind our back.”
“Labor wants to put our policies under the microscope while leaving the full cost of its own agenda unanswered. The public won’t be conned by a political stitch-up dressed as financial scrutiny.”
Media Release: NSW One Nation Leader Mike Newman
