Malcolm Turnbull’s reform summit looks set to bury Tony Abbott era for good

THOUGHT Malcolm Turnbull wasn’t for turning on many unpopular Abbott-era policies? You might be wrong, with uni fee deregulation the first casualty.

THE Abbott-Hockey era of economic management has officially passed, with Prime Minister Malcolm Turnbull today confirming: “Everything is on the table.”

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

The first casualty appears to be Mr Abbott’s maligned university deregulation policy, which would have allowed universities to set their own fees and was blocked in the Senate amid a fierce backlash. The Turnbull government has announced today it will shelve the policy for at least the remainder of theyear.

It is also 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.