The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of Wayne Swan

Wayne Swan

Deputy Prime Minister and Treasurer

3 December 2007 - 27 June 2013

6 May 2010

NO.030

Coalition to Vote Against Better Super,
Lower Business Tax, More Infrastructure

The Leader of the Opposition has today announced he will vote against higher retirement savings for Australian families, business tax relief especially for Australia's 2.4 million small businesses and more investment in vital economic infrastructure.

A vote for Mr Abbott at the next election will be a vote for higher tax on Australian business, more red tape, lower retirement savings and less infrastructure.

Mr Abbott demonstrated the huge risk he poses to the Australian economy when he announced a great big new paid parental leave tax – increasing the company tax rate by 1.7 per cent, which will flow directly through to consumers.

Today Mr Abbott has confirmed the risk he poses to the Australian economy by opposing the Government's historic reforms that will deliver a fairer share of Australia's natural resources to the Australian people.

This follows the Liberals' decision to vote against the stimulus measures that kept the Australian economy out of recession and prevented dramatically higher unemployment.

On Sunday I asked the Coalition to take a considered and responsible approach to these vital reforms and to put the national interest first.

Unfortunately, the Opposition have immediately reverted to their standard position of blocking vital economic policies and launching a scare campaign instead of offering any alternative policy.

The Government will continue to argue for the historic tax reforms announced on Sunday which will boost retirement savings, cut business tax and red tape and boost infrastructure investment, despite Mr Abbott's reckless political blocking.

The Government's tax reforms will deliver Australia a strong and secure economic future by:

  • adding $108,000 to the retirement super of an average worker aged 30 now;
  • increasing Australia's pool of superannuation savings by $85 billion over the decade ahead;
  • cutting tax and red tape for 2.4 million small businesses;
  • boosting investment, jobs and productivity across the economy by cutting the company tax rate; and
  • helping build the rail, roads and ports we need for the future, in particular, in our resource states.

CANBERRA
6 May 2010