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Turnbull on defensive over tax plan

Wealthy parents should “shell out” and buy their children houses if they are locked out of the housing market, Turnbull said in off-the-cuff remarks on Wednesday, comments which have been seized on by the opposition.

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Australian Prime Minister Malcolm Turnbull’s housing suggestion has been scorned by opponents.

He refused to specify which day he would visit the governor-general to call for the early election, but did tell the Seven Network that “this weekend is looking pretty good I would say, “yes”.

The Liberal-National coalition, which returned to power in 2013, has lost its lead against the opposition Labor party in the latest polls, with the two sides now running neck-and-neck, but Turnbull said he expected to win.

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.

Shadow treasurer Chris Bowen unsuccessfully attempted to have Parliament debate a motion condemning the Prime Minister for what amounted to a “fraud”.

“While Mr Turnbull dithers, Labor will deliver”.

“None of our changes will be retrospective because I really don’t like retrospective laws”, Mr Shorten told Alan Jones on 2GB radio, the morning after presenting his budget reply speech.

Turnbull’s budget was his plan – a radical, and fair, revamp of the superannuation system, and company tax cuts starting with small business, but extending to all companies over the decade.

He said the government was awarding the biggest companies in Australia a tax cut while ignoring people who were missing out.

Shorten proposed that under a Labor Government Medicare would be safe.

“Coles is not a small business, the Commonwealth Bank is not a small business”.

A Labor government would cap vocational education loans at $8000 per student, he said.

“When we go to election, the Australian people will decide whether there should be an Australian Building and Construction Commission”, he said.

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This budget fails to set Australia up for the future – by cutting services, cutting infrastructure, cutting skills and education.

Labor leader Bill Shorten gave his budget reply in parliament on Thursday night