Labor has accused Malcolm Turnbull of a “blatant political lie” over the government’s 10-year company tax plan, days before the election starting gun is fired.
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He said that was because the Senate was still sitting, with a full day of estimates committee hearings, quizzing ministers and officials about measures announced in the budget on Tuesday.
Mr Turnbull said this would be a critical choice for Australia.
“Australians know that our future depends on how well we continue to grow and shape our economy as we transition from the unprecedented mining investment boom to a stronger, more diverse new economy” Morrison told parliament.
In confirming Labor would oppose the 10-year plan to cut the company tax rate for all companies to 25 per cent, he said it would only support a rate of 27.5 per cent for businesses with turnovers up to $2 million.
Leading political commentators have said the government delivered a “safe” budget, with the Nine Network’s political editor Laurie Oakes describing the announcement as “boring” but responsible.
Morrison should report the red ink matched forecasts at around A$37 billion (19.2 billion pounds) this financial year and allow him to offer the aspirational goal of small fiscal surpluses from 2021-22 onwards.
“We will deliver tax relief for the small businesses representing 83% of Australian companies”. This would be a budget improvement of $49 billion over a decade, according to the PBO.
Faine: That’s what they say! Scott Morrison was on the line.
It is not “class war” to disagree with cutting money from families on $50,000 and $60,000 in order to give millionaires a tax break.
“We will not support the increase in the threshold, which eventually gets to a billion dollars”, Bowen said on Wednesday.
“It is not “class war” for Labor to speak up on behalf of everyone this government has forgotten and betrayed – women, young people, pensioners, carers and veterans”.
The (unsurprising) news that the federal government would be opposing Labor’s proposed changes to negative gearing and the capital gains tax last week kicked off a huge discussion about housing affordability; one that will hopefully kick on right through to the election.
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Mr Shorten outlined in his budget reply speech a move to save $6 billion by introducing a loan cap of $8000 a year in the VET FEE-HELP program – which provides loans for vocational education students.
