MARK RILEY, HOST: Labor's Shadow Treasurer Chris Bowen is not impressed. He says the job of Budget repair isn't over yet. I spoke with him a short time ago.
Chris Bowen, thanks for joining Seven News.
CHRIS BOWEN, SHADOW TREASURER: Pleasure, Mark.
RILEY: How would you describe this Budget?
BOWEN: I would describe it as a Budget which shows the Government has not learned their lessons. They are still giving away $80 billion to Australias big businesses over the next decade. They still want to make Australians work until they are 70 to get the aged pension. They still want to take $14 a fortnight off people on the pension and Newstart through the Clean Energy supplement. I mean, the things that have failed in Budgets past of the Liberal Party are still there in this Budget.
RILEY: People need tax relief, though. Will you back these tax cuts through the Parliament?
BOWEN: We will certainly vote for the tax cuts which come into force on 1 July this year.
RILEY: And the ones beyond that?
BOWEN: Beyond that, the Government has really got to make the case. There is no figures in the Budget as to how much they cost. There are no figures in the Budget about the different elements and Mark, I don't know if you know what the economy will be like in 2024, but I don't, so we want to have a good look at that. And also, really, Malcolm Turnbull saying Vote for me in two more elections before I give you a tax cut, I think the Australian people would tell him he is kidding.
RILEY: They are also saying, essentially, that the Budget repair job is over, here. So, why maintain the Budget repair levy?
BOWEN: The Budget repair job is not over, Mark. I mean, yes we are getting back to Budget balance a year early, you will under the Labor Party as well, that is a good thing. But really, we have got a wafer thin surplus. We are not getting to 1 per cent of GDP until towards the end of the decade. Half a per cent of GDP gets bowled over in a light breeze. It is like leaving the Budget as a cork on the ocean waiting for international circumstances to change. We have got to get the Australian Budget to safety and that means a good healthy Budget surplus.
RILEY: So how quickly would you do that?
BOWEN: Well we're going to have more to say obviously about our Budget plans, but because we've done the hard work, the hard yards, negative gearing reform, all the other things we have done, we can more responsibly talk about tax cuts and a better return to Budget balance.
RILEY: Does giving tax relief to workers make it any different for you in your view about the corporate tax cuts? Now that individuals have them, maybe companies fare
BOWEN: The fact of the matter is the Budget will be $80 billion better off if we didn't have these corporate tax cuts. Thats money that could be used to repair the Budget. Thats money that could be used to invested in schools and hospitals and all on the wing and the prayer, they hope it creates jobs.
RILEY: The aged care changes, you would have to support them wouldnt you?
BOWEN: Well, we are not concerned there is not one new real dollar when it comes to aged care. They are moving money around the aged care sector. Now of course we want to see more in home care service packages provided. They are providing 14,000 packages over three years. The waiting list has gone up more than that in just over the last little period. But of course, thats a good thing but we dont want to see that money come from elsewhere in the aged care sector.
RILEY: Scott Morrison says he is not Santa Claus. Who is he?
BOWEN: Well he is certainly not a Treasurer who is delivering to the Australian people, taking off the requirement for them to work until they are 70, ripping away the clean energy supplement. If he was a decent Treasurer, he would at least be doing those two things.
RILEY: Chris Bowen thanks for joining us on Seven News.
BOWEN: Pleasure Mark.
