March 01, 2016

The real cost of Malcolm Turnbull toppling Tony Abbott has been revealed today with independent Parliamentary Budget Office analysis showing the Prime Minister’s new baby bonus will cost taxpayers $1.4 billion over the next ten years.

Shadow Minister for Families and Payments, Jenny Macklin, said Malcolm Turnbull’s priorities were wrong.

“The new baby bonus was nothing more than a bribe by Malcolm Turnbull to buy off the Nationals so he could get the top job,” Ms Macklin said.

In the last round of cuts to families, the Government proposed an additional $1,000 FTB-B payment for families with a child under one.

 “Mr Turnbull is cutting family payments which will see Australian families as much as $5,000 a year worse off, yet at the same time he’s bringing back a $1.4 billion baby bonus that is unnecessary and unaffordable,” Ms Macklin said.

 “So much for a Budget emergency, so much for simplifying the welfare system, and so much for putting good policy over political expediency.”

Shadow Finance Minister, Tony Burke, said Malcolm Turnbull had made a decision to choose political expediency over good policy.

 “Labor’s decision to reverse this measure will save the Budget $1.4 billion over the medium term,” Mr Burke said.

 “Labor has announced more than $100 billion worth of improvements to the Budget bottom-line to help fund health and education and improve the Budget.

 “This is an example of Labor taking a sensible approach to reducing expenditure in a responsible way.

 “By contrast, the only decisions Mr Turnbull has made are decisions to protect his own job and to stop the Treasurer from doing his.”


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