6 years ago
LIBS OUT OF TOUCH ON COST OF LIVING
CHRIS BOWEN MP
The Turnbull Government has once again shown it’s totally out of touch on the cost of living stress being faced by Australian families.
Today in Question Time, the Treasurer was asked:
Last night on Q&A, the former head of the industry group Heather Ridout described the government as cowards on economic reform and said that the $65 billion company tax cut was polarising. With profits up 20% last year and wage growth at 2%, why is the Government pitting business against employees by giving the top end of town a tax cut and increasing taxes on ordinary Australians by $300 a year?
The Treasurer couldn’t even answer the question.
At a time of record low wages growth where families are under cost of living pressure, Malcolm Turnbull and Scott Morrison are increasing income taxes on 7 million working and middle income Australians to the tune of $1.7 billion a year.
The new Minister for Social Services, Dan Tehan was asked:
How many Australian families are currently worse off because of this Government’s two-year freeze to Family Tax Benefits?
The L-Plate Minister didn’t know the answer.
By freezing Family Tax Benefit payment rates for two years the Turnbull Government has left around 1.5 million Australian families and millions of children worse off.
The Turnbull Government last year made a $1.4 billion cut to Family Tax Benefits.
This cut has hurt around 600,000 families who get the maximum rate of Family Tax Benefit Part A – meaning their household income is less than $52,000 a year.
It means that a family with a household income of $60,000 a year, with two primary school aged children, will be around $440 worse off.
It means that the support to low income families is not keeping pace with the costs of living.
Australian families know that Turnbull is totally out of touch on the cost of living stress faced by Australian families.
Turnbull is choosing to give a tax handout to millionaires and multinationals, forcing Australian families to pay the price.