Malcolm Turnbull and Bill Shorten dodge the big issues in election leaders’ debate

PRIME Minister Malcolm Turnbull last night embraced his personal wealth and business acumen in an attempt to win voters in his debate with Labor’s Bill Shorten. Who won? Take our poll

MILLIONAIRE Prime Minister Malcolm Turnbull last night embraced his wealth and business acumen in a bid to win over voters and attack Bill Shorten in the first head-to-head leaders’ debate which dodged many of the hard questions.

Signalling an election strategy for the next 33 days, Mr Turnbull proudly declared he came from humble beginnings, was not a career politician and trumpeted the corporate successes he had shared with wife Lucy.

Prime Minister Malcolm Turnbull is greeted by his wife Lucy after the debate. Pic: Lyndon Mechielsen

His focused and pointed political skirmish against the Opposition Leader at the Press Club in Canberra came as Mr Shorten for the first time all-but revealed Labor would vote down the Government’s corporate tax rate cuts.

Mr Shorten also focused on Mr Turnbull’s past, but aligned it to his banking buddies, who will reap about $7 billion from the business tax cuts.

“This is a very expensive risk. $50 billion for large companies, $7 billion of that will go to large Australian banks, NAB, Westpac, Commonwealth Bank and ANZ,’’ Mr Shorten said. “These are matters which are a very expensive gamble. Much of this money will go to overseas shareholders.

“He wants to give banks a tax cut. I want to give them a royal commission.”

Mr Turnbull said there was too much uncertainty in the economy to entrust it with a big-spending Labor government.

Opposition Leader Bill Shorten arrives with his wife Chloe. Pic: Mick Tsikas

“These are times of enormous opportunity and uncertainty. These are times of great challenge. These are times when we need a clear economic plan,” he said.

“And I have that plan.

“I come to this role as Prime Minister and as a member of parliament not from a career in politics, working as a staffer or working for a trade union. I came here to parliament at the age of 50 after a career that had many roles including many in business.

“Often in partnership with my wife Lucy, my wife of more than 36 years, and together what we have done is built businesses, made investments, created jobs.”

Mr Shorten rammed home the message of “trust”, hinting of past broken promises on health, education and welfare by the previous Abbott Government.

“You can trust Labor to protect Medicare. Trust Labor to stand up for education and training. Trust Labor to ensure fair taxation and housing affordability,” Mr Shorten said.

“Trust Labor to take action on renewable energy and climate change. Trust Labor to ensure the equal treatment of women in our society.

“The real challenge for Australia, of course, is to ensure that we have fairness in our society. The only way we can have a strong and sustainable economy, maintain a decent standard of living, make sure that there is equality for all Australians is to ensure that we have fairness.’’

Prime Minister Malcolm Turnbull and Opposition Leader Bill Shorten shake hands as they arrive for the leaders' debate at the National Press Club in Canberra. Pic: Tracey Nearmy

He said fairness was not giving a tax break to the big end of town. “I have to say that when it comes to corporate tax cuts Labor doesn’t think they’re the right idea for this nation – full stop.”

Both leaders faced questions on superannuation, which they both pledged not to change in the next Parliament.

Things became heated on climate change and asylum seekers, with Mr Shorten asking whether Mr Turnbull was being run by the right of the Liberal Party.

Mr Shorten was on the back foot on costings and on health policy and hinted he would announce spending cuts.

“I’lI undertake before this election campaign is over, we will provide all of our forecasts once we have released all of our policies, which we haven’t yet,” he said.

“We will have a credible path to balance because we’re committed to repairing the budget.”