Hockey Says Government Overspending on Welfare Payment

Shadow Treasure Joe Hockey criticized western Europe nations for spending far more than their gross domestic product. The criticism was made when Hockey was in London the other day to give a speech called “The End of the Age of Entitlement.”

In his speech, he said governments’ overspending has resulted to financial losses that governments could have used for health and welfare pensions.

Hockey acknowledged that the loss in Australia is slightly smaller in figures. He, however, maintained that the Federal Government needs to be prudent and vigilant about spending and welfare payments properly.

He also criticized John Howard of the Coalition government for proposing welfare plans that are aimed for political gain. He believes that these welfare programs were created for the purpose of outbidding political opponents and gaining in short-term electoral cycles instead of truly helping the public.

Further elaborating what he meant by his speech, the Shadow Treasurer was on ABC TV the other night and said that Australia and Europe must look into the welfare systems of Asian countries like Hong Kong.

Hockey said that entitlement programs are far less in Australia. He added that countries with lower level of entitlement thrive better it allows businesses and individuals to be successful.

The Australian annual budget already includes 30 percent of entitlement claims.

Meanwhile, Bruce Bilson from the opposition said that Hockey’s speech points out the “gold lessons” of having overloaded welfare systems, which is common in North America and Europe.

He, however, said that Hockey’s assertions were an overstatement.

Tagged Joe Hockey, John Howard