Labor leader Anthony Albanese has all but declared his opposition to the Morrison government’s $ 130 billion tax cut for high earners, setting up Labor for a replay of one of the big problems with last year’s election when Bill Shorten proposed the same
The tax reduction already provided for by law, which should come into force in 2024, eliminates the 37% tax bracket and applies a 32T rate of 5% for anyone earning between $ 41,000 and $ 200,000 per year
The 37% rate currently applies to income over $ 90,000 with a 45% rate over $ 180,000, which will shift to income over $ 200,000
M Albanese has previously declined to say whether Labor would try to overturn the tax cut if it wins power, but he made a special solo appearance on ABC’s Q A
« I think it is very difficult to argue, under the current circumstances, for top-notch tax cuts, » said M Albanese « That’s my opinion »
He suggested the money could be used to pay off Australia’s debt or fund other spending to help the economy recover from the coronavirus, as $ 80 billion of the cut would go to people « really high end »
Asked if removing tax cuts would give $ 130 billion to fund his other election promises, Mr. Albanese smiled and said: « That’s one way of looking at it, absolutely »
He did not categorically commit to bringing this policy to the next election and said the party would announce its policy later
Labor went to elections last year promising to repeal the third stage of the cuts, which allow Australians the biggest savings on high wages, after failing to block laws in the Senate in 2018
Last week’s federal budget brought forward the second step of tax cuts to stimulate spending and stimulate the economy to an extent that Treasurer Josh Frydenberg said provided « the best bang for the buck »
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M Frydenberg also supported the third step of the tax cut, saying the government was fully committed to the measure, which would be a major structural change for the economy.
Appearing solo on Q A after M Frydenberg and Prime Minister Scott Morrison refused invitations to appear, Mr. Albanese was also asked about Monday’s revelations in the NSW Independent Commission Against Corruption
M Albanese declined to support the NSW Labor Party’s call for Prime Minister Gladys Berejiklian to step down from her leadership after admitting to having a relationship with disgraced former Liberal NSW MP Daryl Maguire and discussing his elements of his personal finances, which the ICAC examines
« I certainly don’t think she should be judged on personal matters, I’m saying that very clearly, » said M Albanese « I have known Gladys I have known her for a long time I wish her good luck But I think there are real issues around her government and what she knew »
Ms. Berejiklian said she regretted the relationship with Mr. Maguire, but would not withdraw and there was no suggestion that she was involved in any wrongdoing
Some of the details about his personal relationship with M Maguire, which were raised by the ICAC as part of its review of the merits of its lobbying on behalf of real estate interests, should not have been made public, said Mr. Albanese
Nick Bonyhady is an industrial relations reporter for The Sydney Morning Herald and The Age, based between Sydney and the Parliament of Canberra
Anthony Albanese, Scott Morrison, Australian Labor Party, Newspoll, Josh Frydenberg, Coalition
World News – AU – Labor on track to oppose $ 130 billion dollars in higher tax cuts – again
SOURCE: https://www.w24news.com
