Prime Minister Tony Abbott is being forced into yet another embarrassing backdown on his “signature” Paid Parental Leave scheme, according to a report in today’s Financial Review.
Coalition MPs continue to undermine Tony Abbott’s authority on his deeply unpopular Paid Parental Leave scheme, saying the Prime Minister needs to give ground in order to “salvage” the scheme.
Despite business, economists and even most of his own colleagues saying this policy is a disaster, he has ploughed ahead and recommitted to it day after day after day.
Tony Abbott has tied himself to this disastrous policy and now he’s trying to work out how he can break this promise.
In April this year, Mr Abbott was forced to reduce the upper payment limit on his Paid Parental Leave Scheme from $75,000 to $50,000.
But no amount of tinkering will make Tony Abbott’s scheme fair or affordable.
At the same time as Tony Abbott is cutting funding to pensioners, people with disability and young jobseekers, this $22 billion Paid Parental Leave scheme will give $50,000 to wealthy mothers to have a baby.
Tony Abbott’s signature policy is fundamentally unfair, and it is economically irresponsible.
And everyone knows it. Big business knows it, economists know it and even his own Liberal and National Party colleagues know it.
Tony Abbott should stop tinkering and scrap his unfair and unaffordable scheme.