Federal election 2019: Labor's cuts to tax concessions to save $154b over a decade, policy costings to be unveiled today
10 May 2019
(Translation appears in Arabic section)
Sydney - M E Times Int'l: Labor will today release its policy costings, which are expected to outline $154 billion in savings to the budget over a decade, due to its contentious tax changes.
The Opposition's plans to curb negative gearing, capital gains tax concessions and dividend imputation have been a central battle in the federal election campaign.
Labor will set out how those changes and a crackdown on multinational tax avoidance would allow it to fund spending promises on education and health care, while also bringing the budget back into surplus.
The ABC understands Labor's costings will show it intends to match the Coalition's surplus this coming financial year, but promise a quicker reduction of debt.
"We will show bigger budget surpluses over the forward estimates and the medium-term, achieving a surplus of 1 per cent of GDP by 2022-23, four years earlier than the current Government trajectory," Shadow Treasurer Chris Bowen said.
"The Liberals' claim about the amount that Labor will raise from its tax reform decisions is wrong.
"Labor has consistently said further tax relief can be prudently provided when the budget is back in healthy surplus, if the economic and fiscal circumstances allow — that is reflected in Labor's final fiscal plan."
The budget the Coalition released last month projected a surplus of $7.1 billion for the 2019-20 financial year.
Speaking on RN Breakfast, Mr Bowen committed a Labor government to a $7.5 billion surplus in 2019-20 if elected next week.
He projected a $13 billion surplus in 2020-21, $2 billion more than the Coalition's forecasted $11 billion surplus.
We’re launching the family reunion visa policy later today.
Brisbane: Our aim with this policy is to make family reunions more affordable and accessible and to process them much more quickly than at present. Today, the standard wait time for processing a non-contributory parent visa is over thirty years, meaning many parents won’t live long enough to reunite with their families in Australia. It is possible to jump the queue and have a visa processed within four years if you can afford almost $50,000 per parent. We think the current system is deeply unfair.
That’s why our plan will;
- clear the current backlog of parent visa applications within three years
- cap wait times at 12 months thereafter
- make the contributory parent visa redundant by ensuring that all visas are processed within a year, and review all fees and charges for family reunion visas
- review the unfair balance of family test with a view to removing it. This test means that parents applying to reunite with children in Australia must prove that more than half of their children are citizens or permanent residents here. We think it’s unfair and discriminatory.
- ensure that humanitarian entrants who arrive by boat can apply for family reunion visas.
‘I don’t accept that people don’t like me or our policies’: Shorten
Sydney: Bill Shorten has dismissed concerns about his likability after dropping in popularity in the latest Newspoll, saying on Monday ‘I don’t accept that people don’t like me or our policies’. The Liberal Party has seized on the drop, accusing the Opposition of putting former prime ministers and the shadow cabinet front-and-centre because the Labor Leader has been unable to achieve a boost in popularity. The poll, published in The Australian, shows Scott Morrison increasing his lead over Mr Shorten by three points to 11 per cent as preferred prime minister.
Former Labor PM's present united front at Party's campaign launch
Brisbane: Former prime ministers Julia Gillard and Kevin Rudd have presented a united front on Sunday at the Labor Party's campaign launch in Brisbane. The pair, joined by Paul Keating, walked into the party conference side-by-side in a show of solidarity ahead of the May 18 election. The political enemies appeared to put aside years of personal hatred to present Labor as a stable and united party, which Bill Shorten says will ‘end the chaos in Canberra’. Prime Minister Scott Morrison has weighed in on the appearance, saying it will only stand to remind voters that the Rudd-Gillard-Rudd Labor government was 'terrible' and 'wasted money'.
Morrison admits emissions are increasing
Sydney: Scott Morrison has admitted Australia's emissions have been rising, as a new international report shows climate change is a key factor driving species to extinction.
"Yeah they have lifted," the prime minister told ABC's 730 program on Monday night, when asked about carbon emissions.
But he insists Australia is on track to meet its Kyoto 2020 target, which calls for emissions to be five per cent below 2000 levels.
Mr Morrison says investment in renewables has been increasing and spruiked his recent outlay of $3.5 billion towards climate policies.
The money will go towards the Climate Solutions Fund, invested in business energy efficiency, as well as projects such as Snowy Hydro 2.0.
"That's what we're doing, that's how we meet our targets," the prime minister said.
Labor won't ban live cattle exports in the NT: Bowen
Darwin: Shadow Treasurer Chris Bowen has guaranteed a Labor government won't end the live cattle export trade in the Northern Territory. The cattle industry was decimated by the Gillard government’s decision to suspend live cattle exports in 2011, but Mr Bowen has guaranteed Labor won’t be banning live exports if it wins government. Mr Bowen also launched 'Labor's Future Asia Plan' document while speaking at a conference in Darwin. The plan will create an Asian education advisory council and an Asia-capable schools program in a bid to improve the number of Australians learning to speak an Asian language.
New NSW governor Margaret Beazley sworn in
Sydney: Former Federal Court judge Margaret Beazley has been sworn in as the 39th governor of NSW.
Ms Beazley, who was the first woman appointed to the NSW Court of Appeal, was sworn in at a ceremony at Government House in Sydney.
She received an indigenous welcome before the swearing-in, which was followed by a booming 19-gun salute.
The new governor took time to blow a kiss to her family during the ceremony, where NSW Premier Gladys Berejiklian addressed the crowd.
Ms Beazley replaces David Hurley, who will take up the position of Governor-General in Canberra after the federal election.
Ms Berejiklian thanked Mr Hurley for his service to NSW and said the state was proud to see him become the next Governor-General.
"I know he will serve our nation with the same passion and dedication that he showed during his time as governor of NSW," Ms Berejiklian said.
Jessica Whelan quits as Liberal federal election candidate over anti-Muslim social media posts
Tasmania: The Liberal Party has accepted the resignation of Tasmanian candidate Jessica Whelan following more allegations about her social media activity.
Overnight screenshots emerged that appear to show comments made on Facebook spouting anti-Muslim, anti-immigrant views.
"Clearly these posts are inappropriate, and the Liberal Party was not aware of their existence until they were reported," the Liberal Party said in a statement.
"Therefore, she has offered her resignation as a candidate and the Liberal Party has accepted it."
Morrison to renew push for foreign fighter laws
Sydney: Prime Minister Scott Morrison says he will push foreign fighter laws through parliament if the Coalition wins the upcoming federal election on May 18. The Prime Minister has told The Australian that changes would be made a priority and would be put to both houses within the first week of a new parliament. Mr Morrison has also accused Opposition leader Bill Shorten of stalling the passage of the legislation, which would prevent foreign fighters returning to Australia.