New Treasurer talks tax cuts


The new leadership of the Federal government is already wooing voters with a suggestions of tax cuts to help revive the economy.

The Treasurer Scott Morrison also says ministerial spending will be reigned in but raising the medicare levy to find more funds has been ruled out.

Sarah Bell reports.

TRANSCRIPT

‘Reward for effort,’ is the new catch phrase out of the treasurer’s office.

Malcolm Turnbull, Prime Minister: “We need a tax system that incentivises a more productive economy.”

Personal and family income tax cuts will take centre stage as the government’s focus turns to reform.

Malcolm Turnbull, Prime Minister: “We are committed to ensuring we have a stronger economy.”

The government has started briefing economic leaders.

Scott Morrison spoke to the Governor of the Reserve Bank about tax reform and says the goal is to ensure Australians don’t choose to stay on the welfare system over employment.

Scott Morrison, Treasurer: “It’s about taking people with you.”

Some question whether the cuts can take place without increasing the GST.

Ken Henry, Former Treasury Secretary: “This tax reform package is going to have to be revenue positive, not revenue negative. It’s going to have to boost the budget surplus.”

While the coalition front bench is presenting a united front, the fallout from last week’s coup continues.

At the Women of the Future awards last night, Peta Credlin defended her tough reputation as Tony Abbott’s Chief of Staff.

Peta Credlin, Former Chief of Staff to the Prime Minister: “If you’re a cabinet minister, or a journalist, and you’re intimidated by the Chief of Staff to the Prime Minister, maybe you don’t deserve your job.”

Peter Hendy, Coalition MP: “My suggestion to her would be to chill out for a while and keep out of the media.”

Sarah Bell, QUT News.