Labor to go down road of risky repeal but Shorten’s words on tax cuts still haunt him
Bill Shorten speaking in Canberra, yesterday:
… regardless of what legislation is passed ... Labor will repeal this corporate tax giveaway of $65 billion to the biggest companies in Australia, the banks and the multinationals.
We thought Labor never wanted to do anything to risk investment in this country. The federal Opposition Leader in Brisbane, March 14:
… we’re not going to enter into sovereign risk … We won’t change the law, we won’t change the rules, we won’t create sovereign risk, full stop
But he’s happy to trample on the huge investment Malcolm Turnbull’s tax cuts could result in? Shorten in Canberra, continued:
Reporter: … is your message to business therefore that should these measures pass the Senate this week or soon after, not to make any investment decisions until the election?
Shorten: No, not at all.
The Opposition Leader wants global business to forget about the tax cuts but they all remember this quote. Shorten speaking in parliament, August 24, 2011:
Cutting the company income tax rate increases domestic productivity and domestic investment.
And remember our report on Labor desperately trying to soften its dividend imputation policy? The Australian, March 1:
Shorten is considering a supplement payment package for up to 250,000 pensioners to make up for annual cash refunds they stand to lose, as the Opposition Leader comes under mounting pressure over Labor’s plan to scrap $59bn in refundable tax credits on share dividends.
It took TheAustralian Financial Review only 1½ weeks to catch on. The Fin’s website, last Friday:
Labor is leaning towards exempting low-income pensioners from its policy to scrap franking credit refunds … the most likely option will be to … allow up to $1000 in cash refunds …
Melbourne’s The Age, yesterday:
The backdown, signalled by Fairfax Media last week …
That “signal” came a few days after we put on the Labor flip-flop siren. The Age, March 18:
… analysis shows 350,000 retirees would escape the revenue hike if Labor adjusted its plan to put a $1000 cap on the cash refunds … Shorten signalled plans to adjust the policy …
Opposition finance spokesman Jim Chalmers said The Australian’s pensioners report was all wrong during an interview on the ABC’s RN Breakfast, March 15:
Fran Kelly: Is Labor looking at some form of compensation for the 250,000 pensioners who will lose out under your policy?
Chalmers: No Fran … not accurate …
Kelly: No supplement, no nothing, no extra for the pensioners who lose out?
Chalmers: No.
Chalmers on Sky News, March 15:
No, we’re not (considering concessions to pensioners). Some of those stories which have appeared today are not accurate.
Shorten ultimately decided to exempt pensioners completely. The ALP leader in Canberra, yesterday:
No pensioner … will be affected …
You’re up, Chalmers . How was The Australian wrong about you lot softening up on pensioners again? ABC News, yesterday:
Greg Jennett: Was it in contemplation 15 days ago …?
Chalmers: We don’t take these sorts of decisions lightly, Greg.