Opposition leader Bill Shorten has responded to the 2018 Federal Budget by promising to almost double the Coalition’s tax cuts if Labor wins the next election.
This would mean workers on salaries of $25,000 to $90,000 pocket an extra $928 a year at tax time.
During his budget reply speech on Thursday night, the Labor leader announced that he would support the government’s planned $530 offset for low- and middle-income earners, whilst pledging to double-down on the proposed tax cuts.
Opposition leader Bill Shorten responded to the 2018 Federal budget during his Budget reply speech on Thursday night – promising to almost double the coalition’s tax cuts if Labor wins the next election
The change would see workers on salaries of $25,000 to $90,000 pocketing an extra $928 a year at tax time
‘We will support the government’s tax cut this year – and in our first budget, we will deliver a bigger, better and fairer tax cut for 10 million working Australians. Almost double,’ Mr Shorten told parliament.
‘In our first term of government, a teacher on $65,000 will be $2780 better off under Labor – an extra $928 a year.’
Low-income earners on $25,000 a year would receive $350 tax refunds under the new plan.
For those earning $120,000 a year, the refund would taper down to $140.
The Labor leader also announced education incentives to get more Australians into the workforce – scrapping upfront fees for 100,000 TAFE students and uncapping university places in order to open up spots for 200,000 more graduates
Mr Shorten promised to restore Sunday penalty rates, crack down on wage theft and sham contracting, and announced a $2.8 billion fund to improve hospitals and reduce elective surgery waiting lists, starting in Tasmania
Mr Shorten also announced that Labor would look to get more Australian apprentices working in high priority industries by scrapping upfront fees for 100,000 TAFE students.
‘I don’t want Australia to meet these needs with skills visas,’ he said.
‘I want to train our people for these jobs.’
He also pledged to uncap university places in order to open up spots for 200,000 more graduates.
Further to that, he promised to restore Sunday penalty rates, crack down on wage theft and sham contracting, and announced a $2.8 billion fund to improve hospitals and reduce elective surgery waiting lists, starting in Tasmania.
He said Labor will pay down the national debt faster, rather than giving a tax cut to big corporations.
‘This isn’t the time to blow everything because of a short-term economic upswing – that would be an act of generational folly,’ he said.
‘It might not be fashionable, but it’s time to be responsible.’
Labor is banking on this decision not to match the government’s corporate tax cuts – as well as changes to negative gearing, dividend imputation and capital gains tax – to pay for their promises.
He challenged Prime Minister Malcolm Turnbull to campaign on his company tax cuts in the upcoming five by-elections – as sparked by the ongoing citizenship crisis.
The opposition leader challenged Prime Minister Malcolm Turnbull to campaign on his company tax cuts in the upcoming five by-elections – as sparked by the ongoing citizenship crisis