Bill Shorten and the Labor Party are refusingto own up to their $387 billion tax bill, dodging questions about the cost oftheir policies and casting aspersions on Treasury officials and their work.
In a desperate attempt to distract attentionfrom their $387 billion tax bill, Shadow Treasurer Chris Bowen is clutching atstraws by claiming Treasury costings of alternative policies are notlegitimate.
It is an inconvenient truth for ShadowTreasurer Chris Bowen that one of his predecessors and now ALP President, WayneSwan, said as Treasurer in 2012:
“Treasury regularlygives us information on policies or particular proposals which may come from anumber of groups … Because it’s very important to have an informed debate aboutthe costs of various alternatives.” ABC News Online, 7 November 2012
These costings include $230 billion in higherpersonal income tax, which Chris Bowen himself admitted at the National PressClub just this week:
“Factoring in thecost of Labor’s enhanced Low and Middle Income Tax Offset, the differencebetween Labor and the Liberals is $226 billion.” National Press Club, 10April 2019
These costings also include $57 billion forthe retiree tax, to which Chris Bowen and Labor themselves admit.
The total of Labor’s new taxes is $387 billionover the decade, taking tax as a share of the economy under Labor to 25.9 percent, making a potential Shorten government the highest-taxing in Australianhistory.
Despite Chris Bowen’s desperate attempts atdistraction, none of his frontbench colleagues have disputed that Labor’s newtaxes total $387 billion, the equivalent of an extra yearly tax bill of $5,400per household.
Chris Bowen is welcome to come out of witnessprotection and explain the costings behind his big new tax experiment on theAustralian economy, including the negative gearing policy which he has bungled.
As he himself has admitted, Labor’s new taxeswould start in only 12 weeks’ time on 1 July. A vote for the Labor Party is avote for $387 billion of additional taxes, but as Chris Bowen has told voters,if you don’t like them, don’t vote for them.
Labor can’t manage money and would weaken theeconomy. Only the Coalition can be trusted to deliver lower taxes, more jobsand a stronger economy which underpins record spending on essential services.
