Malcolm Turnbull is giving tax cuts to millionaires and multinationals while cutting the household budgets of families and pensioners.
Malcolm Turnbull’s Budget adds to the cuts and unfairness of the Abbott Budgets – and Australian families are the biggest losers.
Even after Malcolm Turnbull’s six dollar tax cut, some families will still be as much as $4,500 a year worse off.
Malcolm Turnbull has broken the Liberals’ pre-election promise not to touch the Clean Energy Supplement.
By abolishing the Clean Energy Supplement to new entrants:
Families receiving FTB-A will be up to $116 a year worse off per child;
Families receiving FTB-B will lose up to $73 a year;
Single pensioners will be $366 a year worse off;
Couple pensioners will be $550 a year worse off.
These new cuts are on top of the existing cuts Malcolm Turnbull is determined to inflict on low-and-middle-income households.
This Budget locks in:
Family Tax Benefit cuts to 1.5 million families;
Cuts to paid parental leave for 80,000 new mums every year, leaving some $11,800 worse off;
Cuts to 330,000 part-pensioners;
Increasing the pension age to 70;
Cuts to young jobseekers that will force them to live off nothing for a month.
One million families won’t get a tax cut. But they will be hit with cuts to family tax benefits.
When it comes to hurting the household budgets of middle and working class Australians, Turnbull is even worse than Abbott.
This is a manifestly unfair Budget which confirms that Malcolm Turnbull is completely out of touch.
He is giving a millionaire a tax cut worth $16,000, while ripping about $4,500 from the pocket of a single mother.
Australian families know they have a choice this election.
Malcolm Turnbull and the Liberals will give tax cuts to millionaires and multinationals, while increasing the cost of living for ordinary Australians.
Labor will protect the household budgets of ordinary Australians. We’ll put people first.
WEDNESDAY, 4 MAY 2016