MYEFO: TEST FOR SLOMO

12 December 2017

While the Prime Minister has declared mission accomplished on the economy in the upcoming MYEFO, the one major test for Malcolm Turnbull and Scott Morrison is whether they stand up for middle income earners.

Given the recent bluff and bluster of possible future income tax cuts, Malcolm Turnbull and Scott Morrison should use MYEFO to drop their proposal to increase taxes on 7 million Australians.

The only way Turnbull and Slomo can cut income taxes is by dropping their tax hike on over 7 million Australians.

If they dont, any talk of income tax cuts will be talk, and only talk.

Malcolm Turnbull and Scott Morrison cant be trusted on income tax theyve spent the last fortnight talking about cutting income tax, and yet they still havent even reversed their decision to increase the Medicare Levy on people incomes from just 21,000.

A Shorten Labor Government will not proceed with the Medicare Levy increase for Australians earning up to $87,000.

The Governments $44 billion income tax rise on low and middle income Australians comes at exactly the wrong time.

We already know from recent reports from the independent Parliamentary Budget Office that average tax rates are set to rise fastest for people earning just $46,000, in part due to the governments income tax increase.

As it stands, the Governments $65 billion big business handout is effectively funded from increases in the tax burden on low and middle income earners.

In the wake of the worst household consumption figures since the Global Financial Crisis, the last thing middle income Australian families who are facing cost of living pressures want to hear, is that income taxes are on the way up under the Turnbull Government.