The next election campaign was kicked up a gear during the last few days. You can tell because the question of tax cuts has been raised by members of the current Federal Government.
The Federal Treasurer has, in recent days, announced that Australian taxpayers should be given the opportunity to benefit from paying less in personal income tax. Today the current Prime Minister of Australia has announced that he would be taking tax cuts for the Australian people to the next election.
Which makes one wonder if the much touted ‘budget emergency’ is now over. Or are we now seeing the truth, that there was never a budget emergency in the first place apart from in the rhetoric that the Liberal/National Party Coalition was prepared to engage in as part of their quest for power.
Unfortunately both the Prime Minister and Treasurer were a little light on some important details, like how much the tax cuts will be, what other revenue measures (also known as new taxes) will be introduced to offset the lost revenue or, alternatively, what cuts to spending will be made as a result of the decreased revenue coming from person income tax. After all, the current Federal Government would surely wish to maintain its commitment to balanced budgets, not living beyond one’s means, and ensuring that more people are given a chance to stop be leaners and become lifters.
It’s almost farcical that the current Federal Government, given its past rhetoric on fiscal responsibility and proper financial management, would be raising the possibility of decreasing revenue at a time when our budget deficit and debt levels have increased under their watch, when an increasing number of people in Australia are subjected to the withdrawal of financial and other means of support that has been withdrawn by the current Federal Government, and, significantly, the revelations surrounding politicians’ raiding of the public purse via the parliamentary ‘entitlements’ scheme.
The announcing of tax cuts – without any details – so far out from the next Federal election is a purely political game, an attempt on the part of the current Federal Government to buy back popular support that has been lost by the constant debacle that is the implosion of the Liberal/National Party Coalition. It is very clearly a partisan move and, no doubt, the vast majority of the Australian populace will see it for what it is. At least that is certainly my hope.
My fear is that far too many won’t.