Wayne Swan’s tricky relationship with the truth continues. He claims that families in Western Sydney will be worse off under a Coalition Government. The reality is the opposite. Families across Australia will be better off under the Coalition. Our Real Solutions plans will ease cost of living pressures on Australian families. Families will be better off because we will scrap the carbon tax and end Labor’s waste (such as the $6.5 billion border protection blow out).
We will be a Government that lives within its means because we know that’s what you have to do. The Coalition will also fund a tax cut without a carbon tax because we understand that many Australians are doing it tough.
We have also committed $1.5 billion to the much-needed WestConnex road expansion as part of a major roads improvement program Australia-wide. Wayne Swan should stop the spin and tell the truth.
Any figures released by Wayne Swan today are as credible as his commitments to deliver a surplus, to raise $2 billion from the mining tax this year and to create 500,000 jobs by the middle of this year. Wayne Swan claims he is helping families by “tripling of the tax free threshold”.
However, the Government has done nothing like triple the tax free threshold. The effective tax-free threshold for 2011-12 was $16,000 due to the impact of the low income tax offset (LITO). Even the Government’s own tax scales made (and still make) that observation.
When you combine changes to the LITO with the other changes being made as part of the compensation package for the carbon tax, much of the benefit of increasing the tax-free threshold is clawed back.
This is a tax con, not a tax cut – it is certainly no ‘tripling of the tax free threshold’.
Wayne Swan also claims that the Coalition will harm the superannuation of low income workers, however it is Labor that has savagely cut super co-contribution benefits for low income earners by more than $3.3 billion since Labor came to power.
Now that Labor has steadfastly refused to rule out more tax hikes in the superannuation system, families do not know which part of their superannuation Wayne Swan will choose to tax next.
The Coalition will announce our full suite of policies in the lead up to the next election, but families of Western Sydney can be sure that they will be better off under a Coalition Government.
COST OF LIVING FACT SHEET – THE COST OF ESSENTIALS CONTINUE TO RISE
Under Labor the price of essentials continues to rise.
Electricity has increased 15.2% since the introduction of the carbon tax on 1 July 2012.
Gas and other household fuels have increased 13.0% since the introduction of the carbon tax on 1 July 2012.
Percentage cost of living increase since ALP came to power – December Qtr 2007 to December Qtr 2012