May 13, 2005

Fairer Tax Reform for Hard Working Families in Grayndler

FAIRER TAX REFORM FOR HARD WORKING FAMILIES IN GRAYNDLER

MEDIA RELEASE – Anthony Albanese – 13 May 2005

Labor will double the tax cuts for the eight out of ten Australian taxpayers who only received $6 a week from Costello’s Budget, said Anthony Albanese, Member for Grayndler.

Mr Albanese said, “The Howard Government has once again forgotten the hard working people of Grayndler – those nurses, teachers, tradesmen, labourers — the people raising our families — the 80 per cent of our taxpayers — the engine room of Australia. They received no tax cuts last year or this year. And in the next three, they get a measly $6 a week.”

Labor’s fairer tax reform is both balanced and fair.

Mr Albanese said Labor’s fairer tax package would:

• deliver up to a $9 weekly tax cut for those earning up to $25,000 — double the Government.

• deliver a minimum $12 tax cut for those earning from $25,000 to $70,000 — double the Government. And it would preserve the Government’s tax cut for people earning from $70,000 to $105,000.

• deliver $40 to people who earn $105,000 and above — two-thirds of the Government’s proposal.

“A worker or single income family in Grayndler on average weekly earnings ($50,000 p.a) will over the next four years gain $1,248 in tax cuts from the Howard Government. Under Labor’s plan, the same family would receive $2,184.

A dual income family in Grayndler on $85,000 will over the next four years gain $2,496 in tax cuts from the Howard Government. Under Labor’s plan, the same family would receive $4,368.”

Mr Albanese said Labor’s fairer tax plan will not put pressure on interest rates unlike the Howard Government’s plan.

A Beazley Labor Government will deliver to the people of Grayndler where the Howard Government has once again failed, by:

• Solving the skills shortage in Grayndler.

• Implementing a plan for rebuilding Australia’s infrastructure through Infrastructure Australia, and

• Providing some real incentive and reward hard work through fairer tax reform.

“Labor will take a stand of principle for ordinary people in the Grayndler Electorate and they’d expect no less,” Mr Albanese said.