Here's how much those Australian election promises from the major parties really cost

Opposition Leader Bill Shorten and Prime Minister Malcolm Turnbull during the election. Mick Tsikas – Pool/Getty Images

The Parliamentary Budget Office must, by law, prepare costings of election promises made by the major political parties during the campaign.

These are made public only after the election and have just been released. Here are the costings for the Coalition, the Greens and the ALP:

The Coalition’s total combined promises are estimated have a positive impact on the budget, increasing the fiscal balance by $3 billion over four years.

The biggest promise was to better manage the social welfare system. That would increase the underlying cash balance by $2 billion.

Other measures include $2.1 billion spent on infrastructure and transport.

Labor’s promises would have, according to the Parliamentary Budget Office, cut $19.6 billion from the fiscal balance over the forward estimates, as this chart shows:

The biggest commitment was the needs-based school system, which would have cost $5.3 billion.

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