Ted O'Brien to narrow in on personal income tax at National Press Club
Make us a preferred source
Make us a preferred source on Google
The news: Opposition deputy leader and treasury spokesman Ted O’Brien will narrow in on personal income taxes during his biggest speech in the role, warning the “intergenerational compact” between Australians has broken.
Delivering his first address to the National Press Club in the role on Wednesday, O’Brien will accuse Treasurer Jim Chalmers of hiking personal income taxes as he seeks to return the budget to balance.
“It’s clear Labor’s plan is to paper over its growing deficits by letting personal income taxes rip even faster,” he will say, according to excerpts of his speech provided to media ahead of time.
“That’s why Opposition Leader Sussan Ley has made it clear we will take a personal income tax cut package to the next election.”
The context: O’Brien will stress that personal income taxes were now $74 billion, or 28% higher than under the former Coalition government, while pushing for Chalmers to stick to quantifiable fiscal rules.
In October, Ley committed to taking a personal income tax cut package to the next election as the Coalition attempts to differentiate itself from the Albanese government.
Ley said she will unveil the “scale and scope” of the package closer to the election, given the budgetary situation in three years time is unknowable. She did reveal that the cuts would “start where the pressure is”, singling out low and middle income earners bearing the brunt of the ongoing cost of living crisis.
O’Brien was elected Liberal deputy leader in the wake of its May election defeat, choosing to shift to the treasury portfolio.
He served as the Coalition’s energy spokesman in the last term of government, and was a key driver in the party’s decision to scrap its support for a net zero emissions target earlier this month.
What they said: “This is only the beginning. The Treasurer’s own budget makes clear his assault on young workers will only intensify over the coming decade,” O’Brien will say.
The sources: Ted O'Brien speech, Sussan Ley speech
