Corporate tax cuts will cost the budget at least $48.2 billion over 10 years, Treasury has confirmed, ending days of speculation about the cost of the Turnbull government’s budget centrepiece.
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“While Mr Turnbull dithers, Labor will deliver”.
“Now is not the time to reduce the marginal rate for individuals who earn greater than $180,000”.
Shorten also raised Turnbull’s recent media event with a family in Sydney which backfired, after the parents said they had purchased an investment property for their one-year old child.
Mr Fraser said he had only been permitted to release the costing of two of the 11 prongs of the plan: reducing the company tax rate to 25 per cent, and increasing the threshold at which small businesses qualify for a lower tax rate.
Federal Opposition leader Bill Shorten has outlined $71 billion in additional budget improvements over the next 10 years and has pledged to the Australian public that Medicare will be protected by his party in his response to the Federal Budget handed down by treasurer Scott Morrison on Tuesday, May 3.
“We might be the underdogs in this election but we have never sought to be a small target”, he said.
“Because that’s what a small business is”, he said.
But how can this be the case when he himself projects the budget will not be balanced anytime soon and in ten years government debt will still be at $264 billion, which will then be 9.1 per cent of GDP?
Finally, Shorten says that under a Labor Government there will not be a plebiscite “dredging up all kinds of harmful prejudice”, which he says will cost Australians $160 million and will instead push to make marriage equality a reality.
On superannuation, Labor plans to accept a number of the changes but described the elements that affect the retirement phase as “chaotic and unprecedented, and as having been ordered “with zero consultation”.
“It is very undermining of the stability of the superannuation system”.
‘Every poll shows voters like Malcolm Turnbull more than you.
By opposing the government’s life-time retirement savings cap of $1.6 million, the Labor leader appeared to drive a wedge between the government and the Liberal “base” containing self-funded retirees and high-wealth individuals.
“They were made with zero consultation”, Mr Shorten said in a shock announcement.
He said there would be more women around the cabinet table and in the Parliament than ever before.
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He said the Liberals had always wanted a private model of health care like the US.
