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PENALTY RATES CUTS WILL FURTHER BLOW OUT BUDGET BOTTOM LINE

March 27, 2017

Federal Member for Blair for Shayne Neumann has called on the Federal Government to join Labor’s fight against cutting Sunday penalty rates after new research revealed they could further blow out the budget bottom line.

Mr Neumann said that modelling released by the Australia Institute shows that cuts to penalty rates will negatively impact the economy and create a $650 billion hole in the Budget.

“We know that cutting penalty rates will hurt families: what’s clear now is that it’ll hurt the Australian budget as well," Mr Neumann said.

“In addition to hitting low paid workers’ pay, the Australia Institute says the impact will blow a $650 billion hole in the Budget bottom line, potentially putting government services at risk and further growing this Government's debt.

“Adding insult to injury is that these cuts are coming at the same time that the government is trying to hand big business and $50 Billion tax handout, further taking money away from the bdget and putting our AAA credit rating at risk.

“If the financial pain that the cuts to penalty rates will cause low paid workers isn’t enough for Malcolm Turnbull to stop these cuts, then the blow to the budget bottom line is another reason he should stop the penalty rates cuts."

Mr Neumann said that penalty rate cuts were cruel and unnecessary and would hit hard for families in Ipswich and the Somerset Region. 

“I know that for many of my constituents, penalty rates aren’t a luxury, they are what pays the bills and puts food on the table.

“The Labor Party has opposed attempts by this out of touch Turnbull Government to cut penalty rates every step of the way, and we’ll keep fighting against these disgraceful cuts.

“When something is bad for workers, bad for families and bad for the budget, it shouldn’t be government policy.

“These are Malcolm Turnbull’s cuts: he supports them and he could stop them if he wanted. Up to 700,000 Australians will lose up to $77 a week because of Malcolm Turnbull’s cuts.

“Unfortunately Mr Turnbull either isn’t listening or just doesn’t care.”

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