Dear Friend,
I want Australia to be a country where anyone dreams big and knows that by working hard they will get ahead.
But under Labor, the Australian promise is slipping away.
Since 2022, we have had the biggest fall in living standards in the developed world.
Government spending is at a 40-year high outside the pandemic, fuelling inflation and higher interest rates. Government debt is approaching $1 trillion.
Labor’s instinct is to take more and spend more.
We believe Government should empower Australians. It should get the big things right but get off your back.
That's why today we launched our plan to fix the economy and protect our way of life.
It starts with four immediate priorities:
1. Lower taxes.
To restore aspiration and reward for effort, we will axe Labor’s new taxes on housing, savings, investments and small businesses.
We will protect Australians from “bracket creep” caused by inflation. By indexing tax thresholds to inflation, our Tax Back Guarantee will let you keep more of what you earn.
And we will back small business with a permanent $50,000 instant asset write-off.
2. Cheaper power.
We will end net zero to harness Australia’s abundant energy resources, keep reliable generation in the system, lift the ban on nuclear power and unlock more Australian gas for Australians.
3. Less migration and more homes.
We will cap migration to the number of homes built.
We will invest $5 billion in infrastructure to unlock up to 400,000 homes.
4. Put Australians first.
We will limit spending growth, restore a cap on tax revenues and cut waste.
We will save 80 cents of every windfall tax dollar from higher commodity prices to reduce debt and build the nation.
To make our generous benefits system sustainable we will limit access to Australian citizens.
Friend, Australia is worth fighting for.
Our plan is built on a simple belief: if you work hard, take responsibility and play by the rules, you should be able to get ahead again.
Read our full plan here:
