Dec 19, 2017

A budget for millionaires and multinationals, not middle Australia

The MYEFO has revealed that Turnbull doesn't want to do anything about fixing the deficit or debt, and it's going to be regular Australians who pay the price.

Jim Chalmers

Opposition spokesperson for finance

With a week to go until Christmas, Malcolm Turnbull has made it perfectly clear in his budget update that it’s big multinational businesses and millionaires who will get all the goodies, and not Australians who work and study.

The Mid-Year Economic and Fiscal Outlook (MYEFO) confirms that instead of making the right decision to rein in generous tax breaks for the top end of town, Turnbull, Scott Morrison and Mathias Cormann are once again asking the most vulnerable and those who can afford it the least to carry the can for the government’s budget failures.

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8 thoughts on “A budget for millionaires and multinationals, not middle Australia

  1. Alex

    I reckon it is disappointing to read a politician’s partisan, and obvious, view in Crikey when they have all the freely accessible media at their disposal. I tend to turn off when ‘experts’ have so little self confidence that they feel the need to latch onto non-words like ‘uptick’ to try to bolster their trendiness credibility. Less wank and more independent analysis I say.

    1. leon knight

      Maybe, but sadly you will never find out about the LNP’s woeful fiscal performance in the Murdoch rags, so good on Crikey for letting some truth come to the surface – hope the Guardian and New Matilda do the same.

  2. Alan L

    The so-called “debt” of a currency issuer is a chimera – an accounting fiction left over from the days of commodity-backed currency – now, no more than a myth perpetuated by Liberal small government ideology which, sadly, has been bought into suicidally by the ALP.

    We should worry about the real debt of currency users. That real debt- something that is generated in aggregate by federal surpluses, as currency is extracted from the economy and activity can only be sustained by excessive growth in private credit.

    Labor will never compete electorally with the Libs “on the economy” while it echoes their “fiscal rectitude” nonsense, burbles on about “fixing the debt”, and promises better “budget repair” – instead of consigning that idiocy to long overdue oblivion.

    1. A.Blot

      Been listening to Liberal rhetoric to long. Here is a link to change the reality

  3. klewso

    “Millionaires and multinationals”? The Limited News Party’s major sponsors/donors?
    ….. And fancy – “multinationals influencing our democratic system under this government”, in this case our tax burden? ….. So they wouldn’t be Chinese?

  4. AR

    Chalmer… hoo?
    Prove that this was not written by an ALP algorithm rather than an apparatchik… as if there were a difference.

  5. David Hardy

    Why the hell is the Government hell bent on giving a tax cut to big businesses that to the larger part do not pay any tax at all – just Liberals being idiotic . Address the real issue GET all big businesses to at least pay SOME tax in Australia to start with .
    Secondly the average punter would rather see improved Infrastructure than a meaningless Amanda Vanstone sandwich & milkshake tax cut .

    1. 124C4U

      An Amanda Vanstone sandwhich !
      That would be VERY big and probably cost a lot. That would be a worthwhile tax break.

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