The Federal Labor will not bring back the Schoolkids Bonus or modify the aged pension assets test if it wins the elections on July 2.

Chris Bowen, the Shadow Treasurer, clarified the position of the opposition after frontbencher David Feeney stumbled on a response on the schoolkids bonus by confusing it with the Labor’s plans to abolish the baby bonus.

“Families will be better off under Labor, but we will not be able to afford to bring back the Schoolkids Bonus,” he said, according to the Sydney Morning Herald.

Bowen revealed that the party will retain the government’s pension assets test if Labor will be elected, but it will make an evaluation of the overall system including the changes that were introduced last year with the Greens’ help.

Greens Senator Larissa Waters expressed her party’s disappointment towards Labor’s decision. “If you can’t find $4.5 billion for schoolkids but you can find $50 billion to support submarines, then something’s going wrong with your priorities,” she said, according to Sky News Australia.

Meanwhile, Finance Minister Mathias Cormann accused Labor of creating chaos within their party and generating misunderstanding over their promises regarding spending.

“The truth is, Bill Shorten doesn’t know what the size of his budget black hole is today,” he said. “That is why he hasn’t been able to come clean.”

It’s been proven that the 2016 Federal Elections will be an incredibly tight race between current Prime Minister Malcolm Turnbull and Opposition Leader Bill Shorten, based on a recent opinion poll.

In the said poll conducted a couple of days ago, the competition is neck-and-neck, with the Labor Party maintaining its lead at 51-49 though there are some voters who believe that Turnbull’s reign will remain intact.

Both parties have not run short of criticisms to throw at one another either, as Labor had accused Turnbull’s government of making empty promises regarding the $250 million project on energy-efficient homes four months ago.