The Liberals’ mid-year update will show they have no plan to manage the Budget and economy apart from relying on a resurgent global economy.
Any expected Budget improvements in MYEFO will be despite of Scott Morrison, Josh Frydenberg and Mathias Cormann, not because of them.
Of the $9 billion in unexpected improvements since the last Budget, two thirds have been further increases in tax, and the Government is collecting $100 billion more tax this year than in 2013.
Even with billions of dollars rolling through the door due to rosy global conditions, the Liberals have more than doubled net debt, and gross debt has crashed through half-a-trillion dollars on their watch for the first time ever.
The Liberals have shown after more than five years of chaos, disunity and division that they have no idea how to manage the Budget and the economy in a fair and responsible way.
Under the Liberals, workers aren’t getting the pay rises they need to get ahead, families are struggling to make ends meet, business investment is weak, and productivity growth is lacklustre.
If Morrison and Co cared about fixing their Budget mess, they’d adopt Labor’s structural improvements to the tax system, including reforms to negative gearing and capital gains, dividend imputation and family trusts.
If they cared about supporting those who need it, they’d guarantee funding in MYEFO for four-year-old preschool and remote housing in Queensland.
Labor has led the way when it comes to repairing the Budget in a fair way, and making sure the economy works for everyone, not just those at the top end of town.
Labor has done the hard work and made the difficult policy decisions, and we’re ready to govern.