Abbott Govt. promises to keep its election promises on pension

Australia's Tony Abbott-led government has promised that it would not break any of its election promises in the upcoming budget.

In response to Labor's challenge to keep its word in the May 13 budget, Parliamentary Secretary to the Treasurer Steve Ciobo said it would not be easy to get the budget back on track but the government would not turn its back on its election promises.

Speaking on the topic, Ciobo said, "We will honour our election commitments. We'll do it in a way that sets us apart from Labor's track record, where they said one thing before the election but delivered something entirely after the election."

The assurance has come amid speculation that the government could make changes to pensions and the retirement age in the May budget. There have been some reports that the government could hike pension age to 70, and that eligibility norms for getting disability support payments could be hardened.

The Australian recently reported that Mr. Abbott had turned down a proposal to make some changes to the asset test for wealthier citizens on a part-pension as it could amount to breaking an election promise. The paper also reported that Mr. Abbott is against reining in his $5.5 billion signature policy.

On the other hand, Labor has been accusing the Abbott government of having 'twisted priorities' by slashing support to the vulnerable, while offering to pay richer women to have children.