The Coalition has recently released a detailed plan to address Australia’s long-term, structural cost-of-living crisis. This is timely as environmental advocates decry the current government’s regulatory record and oft-discussed corporate tax reform efforts. It’s the prehistoric Maugean Skate that lies at the center of the controversy. This invasive fish species poses a serious risk to salmon farming in Macquarie Harbour. The previously Labor government made historic amendments to the Environmental Protection and Biodiversity Act (EPBC Act). This new policy has made formerly routine projects suddenly vulnerable to litigation, inciting outrage from environmentalists and roadbuilders alike.
In response to the government's policies, the Coalition has announced a two-percentage-point cut to the lowest income tax bracket, to be phased in over two years but intended to remain permanently. And in July, they’ll unveil a temporary fuel excise reduction. This step is included in their plan to begin alleviating the growing costs of living. The opposition has committed to repealing Labor’s most recent round of tax cuts should they find themselves in government. Instead of indexing to inflation, they say their fuel excise cut is a superior solution.
Environmental Concerns and Economic Implications
The Maugean Skate, a prehistoric fish species, creating a flame war. Its effect on salmon farming in Macquarie Harbour would be impressive enough to nab the title. The continued presence of this exotic pest is endangering the future of this embryonic industry, which would mean fewer locally grown jobs and investment. Sadly, the Labor government’s recent amendment to the EPBC Act has made matters worse. It now allows legal challenges to go against projects that have been established for decades.
The EPBC Act amendment removes the environment minister’s ability to reverse previous decisions. It narrowly focuses on projects that were approved under the conditions of state-based regulation five-plus years ago. The Australian Marine Conservation Society has been particularly vociferous in their opposition to these changes. They caution that these changes may erode environmental safeguards and introduce deeper legal instability.
"It's a problem that puts jobs, investment and individual livelihoods at risk."
"This bill would address a critical problem in our current laws."
Tax Amendments and Economic Relief
To fight off Labor’s tax attack, the Coalition has promised to go big. They propose reducing the bottom income tax rate by two percentage points. This common sense measure is meant to provide long-term relief for taxpayers. Made permanent after an initial two-year introduction period, it would ensure that cut does remain. The federal government has introduced a two-percentage-point cut designed to ease cost-of-living challenges for low-income earners.
Our Coalition partners in the Australian Senate have negotiated a deal to cut the federal fuel excise in half from July for one year. This new provision is intended to help alleviate some of the transportation burden facing low-income families who are already burdened by escalating costs.
"The people who are under the most stress across our economy are those with a mortgage in the suburbs and regions really struggling to make ends meet — often double-income families with two cars — and one of the challenges they're facing is paying the bills for transport, transport to go to work, to drop off the kids at school, to visit friends." – Angus Taylor
"This is a huge source of pressure and these are the very families we see who are increasingly under enormous stress." – Angus Taylor
Binch on the opposition accusing their alternative fuel excise cut of being an “election bribe.” They say it’s the missing piece of the puzzle to send relief to Australians doing it tough with the cost of living.
Coalition's Critique of Labor's Fiscal Policies
The Coalition has consistently opposed Labor’s early fiscal conduct attached to unfunded permanent tax cuts and their discourse on budget management. Angus Taylor, an influential member of the Coalition, has been vocal about his concerns over Labor's handling of Australia's economic situation.
"This will replace what Labor is doing, which we think is inappropriate under the circumstances." – Angus Taylor
"And the truth of the matter is that Labor has lost all sense of responsibility — $170 billion of deficits over the coming years — and frankly, that's putting Australia in a position where we've got no shock absorbers, no capacity to deal with this very uncertain world." – Angus Taylor
Taylor contends that Labor’s move to permanently entrench some of the previous government’s tax cuts represents capitulation to a long-term cost-of-living crisis.
"What Labor is doing by doing something permanent is telling us we're going to have a permanent cost-of-living crisis," – Angus Taylor
"Well that's not what we intend if we get into government." – Angus Taylor
