15 December 2015
When Malcolm Turnbull and Scott Morrison overthrew Tony Abbott and Joe Hockey three months ago, they promised new ‘economic leadership’.
We now know what that new leadership looks like – a new GST on everything, more cuts, the deficit widening, debt getting worse and slower economic growth.
The Abbott-Turnbull Government promised to ‘fix the Budget’ but MYEFO confirmed today that the deficit has blown out yet again, this time by $26 billion over the next four years.
The Abbott-Turnbull Government promised to turbocharge the economy - since then we’ve had an economy at below-trend growth. Today, MYEFO has further slashed the projections for economic growth in Australia.
Malcolm Turnbull and Scott Morrison are now also proposing even harsher cuts than those of Tony Abbott and Joe Hockey.
New cuts announced today include $650 million in cuts to Medicare by slashing bulk-billing for diagnostic imaging and pathology services, more than $420 million cut from aged care for seniors with complex needs and $441 million in child care cuts. And there are the mystery cuts - with $1.4 billion in cuts attributed to “Decisions Taken But Not Yet Announced”. As always, these cuts will be even more devastating for regional economies like Newcastle.
Labor will not provide a leave pass or rubber stamp for the Abbott-Turnbull Government to continue with cuts to basic services that hurt low and middle income earners the hardest
Labor has outlined sensible, moderate and costed proposals that would provide for fair Budget reform, which would raise more than $70 billion over the decade and would welcome the government’s support of these measures.
Despite the sham protests against increasing tax, the priority for Malcolm Turnbull and Scott Morrison clearly remains working on their plan for a 15 per cent GST on everything.