Every credible economist has been scathing of Labor’s Budget.
That’s because Labor has us in an inflationary hole and is still digging.
Australia’s inflation is worse than the US, Singapore, Germany, Spain, Japan, the Netherlands, Italy, South Korea, Canada, France, and the entire Euro area.
It is made worse, because the government has lifted spending by $315 billion.
Because the Government can’t control spending, interest rates have gone up 12 times.
Under Labor, the aspiration of home ownership has become out of reach.
Amidst a housing crisis, Labor is bringing in a record 1.67 million migrants over five years.
While we celebrate the contribution of migrants, our program needs to be well managed.
Here’s what others had to say about Labor’s Budget:
“My big ask of the Budget was that it didn’t poke the inflationary bear. I don’t think it passed that test.” - Chris Richardson – Twitter, 14 May 2024
“It's nothing to do with, you know, building a better Australia, a future made in Australia. It's all about industrial size marginal seat strategy.” - Chris Richardson – ABC News, 14 May 2024
“This is the biggest taxing government in 23 years.” - Ross Greenwood – Sky, 14 May 2024
“Spending addiction fuels a new decade of deficits” - Phil Coorey - Financial Review, 14 May 2024
“The most irresponsible budget in recent memory... The government set itself a simple standard: not to make the Reserve Bank’s job harder. Michele Bullock may just choke on her cornflakes.” - Steven Hamilton - Financial Review, 14 May 2024
As Peter Dutton outlined in his response to the Albanese Government’s third Budget, the Coalition will get Australia Back on Track.
To alleviate pressure on the housing market, we will:
Reduce permanent migration – from 185,000 to 140,000 for two years (then 150,000 in year three and 160,000 in year four).
Return the refugee and humanitarian program planning level to the long-term average – from 20,000 to 13,750.
Reduce the numbers of foreign students at metropolitan universities, increase the student visa fee and apply it to foreign students who change courses.
Implement a two-year ban on foreign residents purchasing existing homes.
He also outlined measures to:
Increase workforce participation, by recommitting to doubling the work bonus for around 80,000 pensioners.
Support small businesses, by extending the value of assets eligible for the instant asset write-off.
Deliver more affordable and reliable energy by ramping up domestic gas production.
Incentivise junior doctors training in general practice.
Improve community safety with tougher knife laws, tight bail laws, improved online safety and by tackling antisemitism.
Boost Defence by reprioritising wasteful spending.
The Coalition will deliver a back-to-basics economic plan to get Australia Back on Track.
This includes reining in inflationary spending, winding back regulatory roadblocks, lower taxes and more affordable and reliable energy.
Australians simply can’t afford another three years of Labor.
At the next election, it will be time for a change.
A better change for you, your family and our country.
You can read his full speech here.
The Coalition will simplify the definition of a casual employee
On Thursday night in his budget reply speech, Peter Dutton announced a key commitment in one of my portfolio areas – industrial relations.
The Albanese Government has deliberately created uncertainty for businesses when employing casual workers by repealing the definition of casual employment in the Fair Work Act.
Labor’s radical industrial laws leave it up to the Fair Work Commission to determine whether an employee is casual or permanent, based on numerous factors including work patterns and length of employment.
A future Coalition Government will simplify the definition of a casual worker so that businesses and employees can have certainty as to their situation.
Labor and the Greens rammed through the car and Ute tax
The Albanese Labor Government and the Greens joined forces during the most recent sitting week to rush Labor’s family car and ute tax without allowing any debate on the impact of this tax on families, car dealerships and the automotive industry.
Most Australians won’t even know that this passed – rushing this legislation through the parliament meant that news of Labor’s new tax was buried under budget week headlines.
Labor’s family car and ute tax will mean a massive multi-billion-dollar subsidy to Elon Musk’s Tesla and Chinese electric vehicle makers to fulfil Labor’s escalated net zero ambitions.
Labor refused to allow second reading speeches in the House and Senate, refused debate on the legislation and has blocked attempts to refer the legislation to investigation by Senate inquiry.
Labor has been incredibly secretive about the impacts of their family car and ute tax from the start and they were prepared to run roughshod over normal Parliamentary process to deny any debate, investigation, or questions on the legislation in the Parliament.
To overturn all Parliamentary conventions, you have to ask, what does the Albanese Government have to hide?