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Category: Tax / Government and Politics / Federal Government / Business, Economics and Finance / Budget

Morrison moves to assure voters of budget tax plan

Friday, 15 Apr 2016 12:51:04 | Dan Conifer And Anna Henderson

The Treasurer has confirmed there will be "revenue measures" in the budget. (ABC News: Matt Roberts)

Treasurer Scott Morrison is moving to assure voters the May budget will not increase the overall tax take, while a senior cabinet colleague is personally endorsing an increase in the tax on cigarettes.

Yesterday, the Government's economic team gave the strongest indication yet that some taxes would rise in the May budget.

The comments followed a warning from the ratings agency Moody's, that spending cuts alone would not safeguard Australia's AAA credit rating.

The Treasurer confirmed there would be "revenue measures" in the budget.

Today, Mr Morrison was keen to highlight the Government's commitment to ensuring there was "a fairer, better and lower tax burden for Australians".

Finance Minister Mathias Cormann backed that position in an interview with 7.30 last night, arguing the Government wanted to "raise revenue in a way that was better, without increasing the overall tax burden in the economy".

The ABC understands the Government will crack down on high-end superannuation concessions and increase the tax on cigarettes.

Industry Minister Christopher Pyne backed an increase in the excise on tobacco in a breakfast television interview this morning.

He told Channel Nine "one of the most significant ways of reducing health costs is to reduce the number of smokers".

Labor has already announced its own intention to hike up the tax on cigarettes.

Opposition Leader Bill Shorten welcomed news the Government was adopting his "sensible" idea.

AustraliaPlus


 

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