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Dear Friend,
Tonight, Jim Chalmers handed down a Budget full of broken promises with higher taxes, more debt, lower living standards and fewer homes for Australians.
Because Labor can’t manage money, they’re going after Australians working hard to get ahead, with an extra $50 billion in taxes over the next four years.
This includes an additional $15 billion in personal income taxes and billions more from new taxes on houses, small businesses, farms, and shares.
These taxes, which Anthony Albanese repeatedly promised Australians he wouldn’t put in place, are an all-out assault on aspiration.
This Budget confirms there is more pain on the way for families. Inflation is projected to hit 5 per cent, well above the Reserve Bank’s target band of 2 to 3 per cent. This means interest rates will be higher for longer.
And, as Australians experience the steepest decline in living standards of any advanced economy, the Budget shows Labor will bring in 2 million migrants in its first two terms. This overshoots its own target by 90,000 over the next two years.
This is another broken promise which will make housing less affordable and put more pressure on hospitals, schools, and roads.
On Thursday night, I will deliver my Budget in Reply and outline the Coalition’s plan for a stronger economy and a better Australia.
This is a plan to restore Australia’s standard of living and protect our way of life, by backing Australians who have a go.
Make no mistake, the Coalition will fight tooth and nail against Labor’s new taxes and reckless spending.
Kind regards,
Angus Taylor
Leader of the Opposition
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Authorised by A. Hirst, Liberal, Canberra.
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