Labor is closer to announcing its support for the government’s massive $130 billion stage three tax cuts, but the treasurer continues to highlight the party’s internal divisions over fiscal policy.
The Australian is reporting Labor will not move to repeal the $130 billion tax cut and will also not opt to extend and entrench the Low and Middle Income Tax offset if it forms government at the next election.
Labor hasn’t confirmed its tax policy and isn’t expected to do so for some months despite Opposition Leader Anthony Albanese declaring in March he would announce the party’s policy once the government delivers the budget.
Treasurer Josh Frydenberg highlighted the division in the Labor Party over stage three of the government’s tax plan during Question Time on Wednesday.
“The Member for Corio (Deputy Labor leader Richard Marles) seems to be speaking in favour of our stage three tax cut,” he said.
“The Member for Rankine (Shadow Treasurer Jim Chalmers), always in f
Coalition has large lead in NSW as Nats easily hold Upper Hunter at byelection
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Who said: Never get between a state premier and a bucket of money ?
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‘It’s a Liberal budget’: Shadow Treasurer and Treasurer reach agreement on one thing13/05/2021|8min
Shadow Treasurer Jim Chalmers has hit back at political analysis claiming the Coalition’s big spending budget is Labor in style saying the cut in wages for workers makes it a Liberal budget.
Treasury predicts an expected rise in the consumer price index will exceed wage growth leading to an effective wage cut as early as this financial year.
Mr Chalmers said the budget handed down by Treasurer Josh Frydenberg demonstrated a “deficit in vision” which would be rectified in Labor’s budget reply tonight.