Having taken net government debt from zero to around $170 billion, and with gross government debt now nearing $300 billion, all within a period that has seen the highest terms of trade on record, Julia Gillard is in no position to lecture others on fiscal restraint.
The overpriced school halls program, the home insulation fiasco, the cost blowouts in her failed border protection policies and the massive cost overruns in the broadband network are only a handful of the many examples of Labor's waste and mismanagement.
The respective approaches to school building programs under the former Coalition Government compared with the Labor Government is instructive.
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The Howard government program of just over $1 billion provided partial funding for school infrastructure in grants of up to $150,000 per school.
Schools were required to demonstrate that proposed projects had the support of the community through fund-raising and other activities.
The types of project were at the discretion of each school and ranged from computer laboratories, shade cloth for playgrounds, bicycle sheds, assembly halls, covered learning areas and the like.
Schools worked in conjunction with the relevant state education authority to manage the projects which were approved by independent assessment panels in each state, comprising representatives from state government, parents and teachers.
This ensured that local management achieved the best possible value for money.
The contrast with the $16 billion "Building the Education Revolution" administered by then Minister for Education Julia Gillard could not be more stark.
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While some stimulus spending was required in 2008 this program was an inexcusable extravaganza of central planning and waste.
With virtually no consultation with school communities, numerous schools complained of having foisted upon them one-size-fits-all buildings that they did not require.
Schools played no role in the management of their projects, which led to hundreds of examples of building contractors charging extortionate amounts.
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