Why Australians Deserve Better Than Labor's Budget

Why Australians Deserve Better Than Labor's Budget

Federal Labor's latest Budget reveals a government that has run out of ideas and is turning to higher taxes to fund its spending addiction. Instead of rewarding hard work, encouraging investment and helping Australians get ahead, Labor is reaching deeper into the pockets of families, farmers, small businesses and investors.

After three years of rising prices, record migration, housing shortages and mounting pressure on household budgets Labor has delivered a budget of broken promises that confirms higher spending, more debt and a fresh attack on the people who work hard, save, invest and build businesses.

Labor's secret plan to increase taxes on capital gains, trusts and estates via a death tax has now been laid bare.

The Coalition believes Australians who work hard, save hard and take risks should be rewarded, not punished. That's why we will fight Labor's toxic taxes tooth and nail and repeal them if they become law.

In contrast Labor's approach is an attack on aspiration and will make it harder for young Australians to achieve home ownership.

A Coalition Government will introduce a Tax Back Guarantee, by indexing income tax thresholds to inflation Australians will keep more of what they earn, ending bracket creep and delivering bigger, automatic tax cuts every year.

We also have a clear plan to restore common sense to housing and migration. Labor has added around 1.4 million people to Australia’s population while failing to build enough homes to house them. The Coalition will link migration levels to housing supply and establish a Housing Infrastructure Fund to unlock new homes by funding essential infrastructure.

Small businesses will be backed, not burdened. We will increase the permanent instant asset write-off from $20,000 to $50,000, cut red and green tape and continue reforms that give small business a stronger voice and a fairer go.

Australia was built by people willing to work, invest and take risks. The Coalition's plan is simple: back aspiration, reward effort and restore the opportunity for Australians to get ahead.

That's the future I'm fighting for on behalf of everyone living, working and raising a family in Barker.