00:03A question of tea or coffee and how do you take your tax cut?
00:09After delivering his first budget reply speech last night, Angus Taylor is setting up a clear
00:14choice for voters on tax policy.
00:19Proposing to peg income tax brackets to inflation forever to eliminate bracket creep.
00:25Jim Chalmers loves inflation because he gets more money in. It's great for him. It's terrible
00:32for households.
00:33For a typical earner, the tax plan's worth around $250 in the first year, rising to $1,000
00:40annually after four years. The coalition says it'll cost the budget more than $22 billion.
00:47Labor puts the figure closer to $35 billion.
00:50It would eliminate bracket creep and it would reduce government's reliance on personal
00:56income tax over time. Both of those things are very good. The problem with it is that
01:00it's very expensive.
01:01The Liberal leader also promising to repeal Labor's restrictions on negative gearing and
01:07the capital gains tax.
01:08They are declaring war on aspiration in this country.
01:12We want to make it easier for people to get a toehold in the housing market.
01:15The coalition also wants to make massive cuts to migration, although the details are vague.
01:21It's also proposing to make citizenship a requirement of access to welfare benefits.
01:26But that's hit a nerve with some communities who often feel targeted in politics.
01:32They're part of the contributing factors of society and community here in Australia.
01:36So there should be no difference.
01:39One permanent resident that Angus Taylor seems happy with is Pauline Hanson, who's a permanent
01:44resident in his head.
01:45A sign of the political road ahead.
01:48To be continued in the winter.
01:48You
Comments