All policies back on the table for debate, complete with new three-word slogan

MALCOLM Turnbull is making a clear break from the Abbott government, today meeting with colleagues and business leaders, all policies are “on the table.”

Job ID PD538211. The Prime Minister Malcolm Turnbull with Treasurer Scott Morrison during a picture opportunity with key economic leaders at Parliament House in Canberra. Photo by Gary Ramage

THE Abbott/Hockey period of economic management passed today with Prime Minister Malcolm Turnbull confirming: “Everything is on the table.”

And Treasurer Scott Morrison marked the occasion with his new three-word slogan — “Work, save and invest.”

It is now clear that changes to superannuation tax measures favouring wealthy savers — once ruled out by former Treasurer Joe Hockey — are among the proposals back on the table.

The promise of income tax cuts at the next election, made under former Prime Minister Tony Abbott, also will be reviewed.

Prime Minister Turnbull and Treasurer Morrison spoke on ABC radio just before a three-hour meeting of 20 business group leaders and ministers convened to discuss broad options for changes to economic policies to be announced before the election scheduled for late next year.

Mr Turnbull again promoted his “agile” style of government but promised wide consultation with no policy haste.

“I think you know I’m not somebody who drags his feet. And I’m an activist,” he said. “I’m a thoughtful and considered activist. I’m expeditious but I’m not rash.

“Orderly, thoughtful, consultative process to come up with the right answers.”

He said there would be a “an open debate, all things being on the table, nobody assuming that they’ve got the right answer”, indicating a contrast with the Abbott administration.

“Everybody’s theory or proposition undoubtedly will be improved by discussion.”

Treasurer Morrison said the problem of bracket creep had not been forgotten and acknowledged the plight of workers whose wage rises had pushed them into a higher tax bracket without the buying power of their pay packet improving.

Mr Morrison said in 2000, 80 per cent of wage earners paid 30 cents in the dollar tax. The figure now is around 25 per cent. Someone on the average wage now is in the second-highest tax bracket.

“I think we have an opportunity … to open up debate. Not open up debate for ideological reasons, I think to open up the debate for practical reasons,” said Mr Morrison.

Originally published as All policies back on the table for debate, complete with new three-word slogan