Budget Must Address Crippling Taxation & Chronic Overspending.

8 May 2017

MEDIA RELEASE: FY2017-18 Budget Must Address Crippling Taxation & Chronic Overspending.

The Australian Taxpayers’ Alliance, a non-partisan grassroots advocacy body representing the interests of Australian taxpayers, today called for the Federal government to do what is necessary to secure Australia’s long-term fiscal future by announcing significant cuts in overspending as well as tax relief in the FY2017-18 Commonwealth Budget.

“Every year the government talks tough on ‘living within its means’ but then does the opposite” said Satyajeet Marar, a Research Associate at the Australian Taxpayers’ Alliance. “Australia is entering its eighth consecutive year of deficits, with Federal Government gross debt already over $500 billion - more than $40,000 for every single household in Australia. This is not just economically unsustainable, it is an immoral attack on future generations, and Treasurer Morrison must do the right thing and get spending under control

“We cannot tax and spend our way to prosperity, leaving our future generations under crippling debt in the process. We need to slash bureaucracy and regulations which render our businesses uncompetitive, stop handout programs to special interest groups and lobbyists, and trim welfare not just to individuals who don’t need it, but also to the big end of town.

“In previous years, we’ve seen the government play speculative games with public money by chucking billions of dollars into a redundant Medical Research Future Fund with no guaranteed reward in a sector where there is substantial private investment. We’ve seen MPs splurge on business class travel, sometimes over appallingly short flights of 45 minutes, costing taxpayers over $1.3 billion more a year than if they flew economy. Just yesterday, a report by the Parliamentary Budget Office revealed that $15 billion a year is being spent on welfare for foreign nationals, many of them from developed nations including the UK and New Zealand.”

“We commend the government on its limited efforts to reduce the tax burden in previous years but these must be expanded. With corporate taxes slashed around the world, our businesses need action now to stay competitive – not in ten years. Our unfair stealth bracket creep tax hike must be addressed to relieve families struggling to cope with rises in the cost of living and new tax slugs like the proposed online shopping tax – designed to reward big retailers at the expense of consumers – must be scrapped.

“A smaller, leaner government will drive consumption and competition, encourage businesses and investment, creating quality jobs and opportunities in the process. Malcolm Turnbull and Scott Morrison must keep their promise to govern with liberal principles and restore the Government’s economic credibility. Future generations depend upon it.

Satyajeet Marar, Research Associate, Australian Taxpayers’ Alliance, smarar@taxpayers.org.au +61 409 670 378
Timothy Andrews, Executive Director, Australian Taxpayers’ Alliance, tandrews@taxpayers.org.au +61 434 064 934

Satyajeet Marar will be available for in-person interviews & budget-related analysis in Canberra this week.

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