Straight from the Senate - Issue 26
5.00pm | July 02, 2017
I spoke with David Lipson on Lateline about the Turnbull Government’s changes that began this weekend. The Coalition is cutting taxes for Australia’s wealthiest citizens, while cutting the wages of some of our lowest paid workers. People earning $1 million each year will receive a $16,500 tax cut while over 700,000 workers will have their penalty rates cut, and then cut again on 1 July 2019 and 1 July 2020. This is fundamentally unfair. It is also not smart economic policy. The Treasury Secretary and the Reserve Bank have explained that low wage growth is hurting the economy. A Labor Government will restore penalty rates.
In addition to cutting wages, Malcolm Turnbull has extended the waiting period for parenting payments and youth allowance and introduced a freeze on family tax benefit rates. A family on $60,000 with two primary school aged children will be approximately $440 worse off in 2018-19, and a single parent family on $50,000 with two high school aged children will be approximately $540 worse in 2018-19. Malcolm Turnbull is also maintaining the freeze on Medicare rebates for GP management of chronic disease, pre and post pregnancy treatment, pap smears and mental health assessments.
The Liberal Party is deeply and fundamentally divided on significant questions on the direction of the Australian economy and society. Australians deserve a government that will put their interests first. You can watch the full discussion on Lateline here.