SLOMO ON THE UPDATE: 3 WEEKS AFTER THE BUDGET AND INCOME TAX DETAILS STILL DRIBBLING OUT

26 May 2018

Talk about SloMo, the Budget was three weeks ago, the income tax legislation passed through the House last week, and the Treasurer is still selectively dropping out new but incomplete pieces of information on the package.

This is little more than a pathetic attempt to distract from Bill Shorten and Labors bigger, better and fairer income tax cut plan.

And yet the Treasurer still refuses to release a year-on-year breakdown of the cost of the package.

Mr Morrison conceded during the week that $40 billion of the income tax plan goes to higher income earners (Stage 3).

The fact of the matter is that the 2024 changes would see someone earning $41,000 paying the same marginal rate of tax as someone earning $200,000.

The bottomline is that if Malcolm Turnbull and Scott Morrison wanted to provide tax relief for middle income Australians sooner it would have voted for Labors bigger, better and fairer income tax cuts in the Parliament during the week.

Instead, Scott Morrison is left talking about what may or may not happen in two (2022 tax cuts) or three elections (2024 tax cuts) time.

Scott Morrison cant tell you what the global and Australian economy will be doing in 2024 and yet he wants to bake in $40 billion of additional income tax cuts for higher income earners at that time.

Bill Shorten has outlined Labors priority for bigger, better and fairer income tax cuts for the next few years and the next term of Parliament.

Labor will take the time through Senate estimates and the upcoming Senate inquiry into the income tax legislation to properly explore its financial and distributional impacts.