Anthony Albanese has dismissed the concerns of ratings agency S&P after the firm indicated Australia’s prized debt rating could be in jeopardy if debt and deficit worsen.
In an wide-ranging interview on ABC’s 730 program on Monday night, the prime minister also pushed back at concerns from GPs that even a tripling in the bulk-billing incentive won’t be enough to stop them charging a gap fee.
Just hours before Labor released its election costings on Monday afternoon, the New York-based S&P Global Ratings issued a warning that big-ticket commitments from both major parties – including on health, cost-of living education, energy and housing – could threaten Australia’s AAA credit rating.
“How the elected government funds its campaign pledges and rising spending will be crucial for maintaining the rating,” the agency said.
Albanese dismissed the concerns, saying there was “no suggestion [it was at risk]”.
“They must have been beside themselves, whoever wrote that particular report, when the Coalition left us with a $78bn deficit,” he said. “We turned that into a $22bn surplus. We followed that up with a $15bn surplus.”
Albanese’s re-election campaign has centred around health commitments, including a landmark $8.5bn boost to Medicare that aims to make nine out of 10 GP visits free by the end of the decade.
Doctors have cast doubt as to whether that can be achieved, in part due to the high cost of running a practice.
Albanese pushed back at the criticism, pointing to the result of tripling the bulk-billing incentive for pensioners, concession card holders and children as proof such a target can be reached.
He also brushed off the findings of an ABC survey of doctors that found 90% won’t move to full bulk-billing under Labor’s proposed changes – which the Coalition has matched.
“I’ll put this tip to you – if you did a survey of people in this ABC building and asked them were they getting enough pay or would they like more? Most of them would say that they would like more,” Albanese said.
During the interview, Albanese accused Peter Dutton of leaning into culture wars to distract from a lack of an agenda to tackle cost-of-living pressures.
Dutton on Monday confirmed he does not believe that welcome to country ceremonies were necessary at Anzac Day dawn services, doubling down on a position aired at the final leaders’ debate of the campaign on Sunday night.
Albanese said he found the ceremonies “uplifting” but maintained it should be left to the organisations to decide whether to stage them.
But he made clear he didn’t want to be drawn into a culture war debate with Dutton about them.
“This is a complete distraction by Peter Dutton, who wants it talk about anything but cost-of-living,” he said.
Earlier on Monday, the prime minister opened the campaign’s final week with flying visits to the marginal NSW seats of Robertson on the central coast and Bennelong, Banks and Fowler in Sydney.
Albanese made one announcement, pledging $20m for a domestic violence trauma centre in Gosford.
The Coalition immediately matched the commitment.
