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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“Yeah exactly, see you’ve got the solution in your own hands… you can provide a bit of inter-generational equity in the Faine family”, Mr Turnbull said.
Malcolm Turnbull’s budget puts big business over battlers. “And someone on $1 million will be nearly $17,000 better off every year”.
“Prime Minister, just how out of touch are you?“.
“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”, he said.
Apparently in Mr Turnbull’s Australia, big businesses like Goldman Sachs are a small business.
Mr Shorten characterised the budget as unfair and unequal and said the government had taken on some Labor policies as well.
“We will deliver tax relief for the small businesses representing 83 per cent of Australian companies but billion-dollar operations are not small businesses”, he said.
Parliamentary budget office costings revealed on Wednesday showed the final three years of the plan would cost $40bn and the total revenue forgone over the decade could exceed $60bn.
“Coles is not a small business, the Commonwealth Bank is not a small business”.
According to The Australian newspaper, the budget would also contain a further Aus$1 billion to refinance military deployments in Afghanistan, Iraq and other parts of the Middle East.
These two decisions made a $65 billion budget improvement, he said.
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. Turnbull defended his position by saying it was “not the practice of the government or indeed governments to release itemised elements of the medium-term projections beyond the forward estimates”.
“This is quite a radical thing, that they have said we’re going to (have) retrospective changes in superannuation”, he said.
He condemned rorting in the private system of vocational training.
Mr Shorten said in 2014 the 10 largest private training colleges received $900 million in government funding but less than five per cent of their students graduated. Yet less than 5% of their students graduated.
He said tens of thousands were being loaded with massive debt but not the qualification they needed to find a job.
He said the Liberals had always wanted a private model of health care like the US.
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He said a Labor government would act to protect Medicare within its first 100 days.
