“New net zero spending measures Table 3.9 sets out $12.3 billion in new net zero spending commitments over the forward estimates period and $18.2 billion over the medium term, across the 2025-26 MYEFO and this Budget. This follows net zero spending commitments of $6.9 billion (over the medium term)... reported in the 2025-26 Budget, $24.3 billion (over the medium term) in the 2024-25 Budget, climate-related spending of $4.6 billion (to 2030) committed in the 2023-24 Budget and $24.9 billion (to 2030) committed in the October 2022-23 Budget.” •••••••••••••••••• Don’t be fooled by last nights budget reply where Angus Taylor said he would index the lower tax brackets. It’s too little too late. The lower tax bracket needs to be removed full stop. It’s absurd that people are taxed below the cost of living. is the only party that has committed to do this and identified the savings to fund it. Indexing the lower bracket of $18,200 by 4% will lift it by a measly $728. Applying next years tax rate of 14 cents, that will save you $102. This is no where near enough to adjust for 4% inflation on the poverty line of $45,000 which is $1,800. If he was serious about cutting taxes, Taylor should have cut spending much harder. There’s at least $10 billion every year wasted on net zero and $10 billion on bureaucrats gold plated pension scheme to name just a few. These are just two of the many programs People First will slash to cut income tax by $4,000 per annum. We will also crack down of offshore profit shifting to cut taxes even further.show more

Gerard Rennick

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