Labor launches ten year plan
Labor has released their ten year economic plan, which promises to invest in education and infrastructure.
The plan also sets out Labor’s approach to tax: no increase in the GST, changes to negative gearing for new properties, and halving the Capital Gains Tax discount, from 50 to 25 per cent.
They are also promising tax relief for small businesses with a turnover of less than $2 million per year and promise to shut down loopholes allowing big multinational companies to send profits overseas.
To deliver all this, Labor says the budget deficit will be bigger over the next four years, but will return to surplus in 2021 – the same time frame given by the Coalition.
Story features: Professor Phil Lewis, Director Centre for Labour Market Research University of Canberra
Image: Bill Shorten launching Labor’s 10 year plan
