The federal government should bring forward its mid-year budget review to show Australians their plan for the flagging economy, shadow treasurer Jim Chalmers says.
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Dr Chalmers told the Tasmanian Labor state conference in Burnie that spending on big ticket infrastructure projects must be brought forward to pump more money into the economy.
"An earlier budget update would give the government a circuit-breaking opportunity to come up with the economic plan, which has been so conspicuously absent so far," he said on Saturday.
The mid-year budget review, or Mid-Year Economic and Fiscal Outlook, has been delivered in mid-December since the coalition came to power in 2013, although unlike the budget, its timing is at the discretion of the treasurer.
Dr Chalmers said a proper plan to lift the economy should include a review and increase to Newstart, bringing forward investment in public infrastructure, such as the Bass Highway in Tasmania highway, and bringing forward stage two of the legislated personal income tax cuts.
Labor also wants to see a proper wages policy which should begin with the restoration of penalty rates.
"If the government did any or all of these things that we are suggesting, they could boost the economy without jeopardising the (budget) surplus," Dr Chalmers told reporters after delivering his speech.
His comments come ahead of next week's release of the quarterly national accounts, which economists say could show growth slowing to around 1.4 per cent in the year to June - around half the pace of what is considered to be the average trend.
It would be the slowest economic growth since the 2008-2009 global financial crisis.
Tasmanian Labor leader Rebecca White targeted jobs growth and better pay and conditions in her speech to the conference.
"In the last five years Tasmania has lost 2000 apprentices and trainees. If this is not turned around then young Tasmanians will leave the state to pursue job opportunities elsewhere," she says.
Tasmanian Labor is licking its wounds after a bad federal election in which the party lost two lower house seats and a Senate seat.
State secretary Stuart Benson says the federal election result was "extremely distressing", and he paid tribute to the three MPs who lost their seats.
Australian Associated Press
