Australia's opposition Labor on Friday unveiled its economic blueprint for ...
SYDNEY - Australia’s opposition Labor on Friday unveiled its economic blueprint for the May 18 election, promising bigger budget surpluses than the government in an attempt to undermine Prime Minister Scott Morrison’s attacks on its economic management.
But by cutting what Labor said were generous tax concessions aimed at the country’s wealthiest, it could deliver a surplus of A$13 billion in 2020-21 — $2 billion more than what the conservative government promised in April.“We will provide more capability to invest in education. We are providing a remedy, not a replica. That is what the election is all about.”
The estimates include Labor’s announced policies, including abolishing tax concessions for people who invest in property and tax rebates for dividends paid out from after-tax corporate profits. “Australians can’t trust a Labor party when every time they have had the opportunity they’ve fallen over when it comes to financial management,” Morrison told reporters while campaigning in the state of Queensland.
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