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Andrew Bolt has blasted the Anthony Albanese government over its first federal Budget which provides ‘no real help’ for Australians who are only going to get poorer, he said.
The outspoken political commentator and Sky News host unleashed a scathing attack after federal treasurer Jim Chalmers unveiled the 2022-23 Budget, which he described as ‘la la land’ and ‘away with the fairies’.
While parents of young children, TAFE and university students and those needing medication are among the big winners of Labor’s first Budget in almost a decade, millions of Australians struggling to pay rent, put food on the table, and power their cars and homes are crying out for help.
Bolt believes the cost of living Budget measures announced on Tuesday night will have little benefit for those who need it the most.
Labor has been accused of providing ‘no real help’ for Australians in its first budget since 2013
‘There is no real help, if you don’t have a child that needs childcare,’ Bolt raged.
‘If you’re a couple, family, where you think one of you should stay at home to give your child optimal care, there is nothing in this Budget to help you with cost of living apart from cheaper medicines.
‘You don’t get cheaper childcare and you don’t get the (six months paid) parental leave either.’
Bolt also made his feelings known about the first promise in the Budget – the referendum on the Indigenous Voice to Parliament which will cost taxpayers $75million.
‘Where’s your priorities? People are getting poorer, and they will get poorer for two years more,’ he fumed.
‘They’ve got electricity prices up 50 per cent and they’re talking about, ‘Let’s have an Aboriginal parliament as Labor’s first promise in this Budget?’
‘I think it’s away with the fairies!’
Andrew Bolt (pictured) had very little positive to say about the federal Budget on Sky news on Tuesday night as he unleashed a scathing attack
Finance Minister Katy Gallagher and Treasurer Jim Chalmers were all smiles as they arrived at Parliament House on Tuesday ahead of the Budget launch
Bolt pointed out the Budget forecasts power bills to surge by more than 50 per cent in the next 18 months, despite claiming it will deliver cheaper electricity.
‘This is just ridiculous, there is no cost of living relief and the spending you do see is on trash … there’s billions being spent, $25billion, on green policies,’ Bolt continued.
‘Including such useless things as creating hydrogen charging stations. The number of people driving hydrogen-fuelled cars and hydrogen trucks on our roads are about zero!’
Bolt’s scathing attack comes after the Treasurer warned of gloomy times ahead.
‘Australians know there are hard days to come, and hard decisions to accompany them,’ Dr Chalmers said as he began his Budget speech.
‘This is a responsible Budget that is right for the times and readies us for the future. And it begins the hard yards of budget repair.
‘We now confront the prospect of a third global downturn in a decade and a half.
‘This time not a financial crisis or a pandemic, but a war driving high prices and higher interest rates here and around the world, and the risk of another global recession.’
Bolt agreed the tough times will get even harder as he doubled down on his attack in his News Corp column.
Andrew Bolt believes millions of Australians will become poorer through Labor’s budget (Pictured, a woman refuelling her car in Sydney)
He described the Treasurer as being in ‘la la land’ and labelled his Budget speech as ‘dangerously delusional.’
‘The only things we’re getting from Labor’s Budget are more debt, higher prices, a dodgy electricity system, crowded cities, and under-parented children,’ Bolt wrote.
‘The problem is this Labor Government will keep spending even more: from $644billion this financial year to $729billion four years later.
‘But what will we have to show for it? More debt, higher prices, a dodgy electricity system, crowded cities, under-parented children and a bigger government.’
Bolt claimed there was little in the budget to help cope with the soaring cost of living
It’s official: Millions of Australians LOSE a $1500 tax cut as Jim Chalmers axes ‘lamington’ offset
More than 10million Australians will miss out on the popular $1,500 offset when they lodge their tax returns next year.
Federal treasurer Jim Chalmers has officially confirmed the low-and middle-income tax offset (LAMITO) is gone as he unveiled the 2022-23 Budget on Tuesday night.
The offset, known as the Lamington, was brought in during the 2018/2019 financial year and was extended twice during the Covid pandemic by the former Coalition government.
Prime Minister Anthony Albanese and Dr Chalmers hinted in recent days that the tax break would not be continued, despite the soaring cost of living and high inflation.
The Treasurer has since confirmed the worst fears of 10.2million eligible Australians that the LMITO will be abolished.
10.2 million Australians will be worse off with the axing of the low-and middle-income tax offset
‘Australians know there are hard days to come, and hard decisions to accompany them,’ Dr Chalmers said.
‘This is a responsible budget that is right for the times and readies us for the future. And it begins the hard yards of Budget repair.
‘We now confront the prospect of a third global downturn in a decade and a half.
‘This time it’s not a financial crisis or a pandemic, but a war driving high prices and higher interest rates here and around the world, and the risk of another global recession.
‘This time demands a different response. One that puts a premium on what’s responsible, affordable, and sustainable.’
The federal government has stuck to its promise of following through with widespread income tax cuts from 2024.
But low and middle income earners will take a hit in the interim with the axing of the LMITO.
The axing of the tax offset means Australians earning between $48,000 and $90,000 won’t receive the maximum offset of $1500 as they did in this tax year.
Those earning $37,000 or less were able to claim $675 back on their tax return – while workers on more than $37,000 but less than $90,000 a year were eligible for the full $1,500.
Eligible Australians have until next Monday (October 31) to claim an offset up to $1500 for this financial year.
‘We’ve been supportive in the past of the LMITO for good reason and that’s because we support genuine tax relief for people on lower-middle incomes and that’s what that policy was designed to provide and that’s why we supported the lower-middle income tax offset through the parliament,’ Dr Chalmers said on October 6.
More than ten million Australians will miss out on a $1,500 tax offset when they lodge their 2022-23 tax returns
The previous Coalition government, with Labor’s support in Opposition, introduced sweeping Stage Three tax changes in 2019 during an election year, shortly before the pandemic.
Laws were passed that from July, 2024 will see the number of tax brackets cut from five to four for the first time since 1984.
This would see the 37 per cent tax bracket abolished and a new 30 per cent tax bracket created for all individuals earning between $45,000 and $200,000.
A new top marginal tax rate of 45 per cent would apply for those earning more than $200,000, which includes the likes of members of parliament.
H&R Block tax communications director Mark Chapman described the Budget as one for repairing the public finances, helping with the cost of living and building long-term productivity, not tax changes
‘What this means is that the hard decisions have been deferred, not avoided,’ Mr Chapman said.
Treasurer Jim Chalmers receives a hug from his daughter Annabel after delivering his first federal budget on Tuesday night as his wife watches on
‘What will happen to the stage three tax cuts that are scheduled to start from 1 July 2024 and provide substantial tax breaks, largely to the wealthiest?
‘What will happen to the temporary full expensing measures that provide nearly all businesses with the opportunity to invest in capital assets and get an immediate tax deduction for doing so?
This measure comes to an end on 30 June 2023 – and there was nothing said about this tonight. This might simply be a case of pain deferred for the Treasurer.’
Many Aussies have already struggled with the rise in the cost of living, with fuel and grocery prices all skyrocketing.
The world and its economic outlook have changed drastically in the nine-and-a-half years since federal Labor last handed down a budget, on May 14, 2013.
But Mr Albanese and his ministers believed they are ready to launch into the task of budget repair after inheriting a structural deficit and record levels of debt.
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