Fair Income Taxes For Budget Repair That’s Fair

Labor takes the challenge of fair Budget reform seriously.

For Labor, this means being able to demonstrate how we will pay for our policy commitments in a responsible and sustainable manner.

It means making tough decisions, prioritising important social and economic investments in schools, hospitals and infrastructure, while providing fair Budget reform.

Labor will not give individuals earning over $180,000 a tax cut to their marginal tax rate like the Liberals.

The top 3 per cent of income earners should not be receiving a tax cut from 1 July 2017 if the bottom 75 per cent won’t.

According to preliminary estimates from the independent Parliamentary Budget Office this decision will improve the Budget by $16 billion over the decade.

Labor has been leading the debate on tax reform and savings over the last few years, outlining fully costed and funded plans.

We will not repeat the mistake of the Turnbull-Abbott Government of promising a magic pudding and delivering a Budget of broken promises and cuts.

Watch Bill Shorten's Budget Reply speech for more.