The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of David Bradbury

David Bradbury

Assistant Treasurer, Minister Assisting for Financial Services & Superannuation and Minister for Competition Policy & Consumer Affairs

5 March 2012 - 18 September 2013

Media Release of 07/03/2013

NO.027

Penrith families will be hit by Abbott's savage cuts

Tony Abbott needs to front up to local Penrith families and pensioners today about just how much money he will rip out of their pockets if elected.

For the people of Lindsay, Mr Abbott wants to:

  • Wind back tax cuts for more than 57,000 people;
  • Scrap increases in payments for 21,100 pensioners;
  • Cut assistance payments for 13,700 families; and
  • Rip away the Schoolkids Bonus for 9,900 families.

A Penrith family earning the median family income of $118,000 with three kids – aged 7, 11 and 15 – where Dad earns $70,000 and Mum earns $48,000, will be $2300 a year worse off under Tony Abbott.

Dad will pay $253 a year more tax, and Mum will pay $303 a year more tax. They will lose $1640 in Schoolkids Bonus and $280 in household assistance payments.

Mr Abbott says he has a plan for Western Sydney, but his only plan is rip assistance away from families and pensioners.

Mr Abbott should come clean with Penrith families and pensioners and tell them what he will cut.

7 March 2013