Labor gets the big economic calls right (again) - Media Release


The budget bottom line is almost $1 billion better off thanks to Labor.

Yesterday we learnt that last month’s $529 million settlement between BHP and the Australian Tax Office would not have been possible without two bills introduced by Labor in 2012 and 2013.

Today, we discover that it was Labor again responsible for saving taxpayers $425 million through our opposition to a reckless intangible asset depreciation measure put forward by the Coalition.

The Government has effectively credited Labor for this saving in its Mid Year Economic Financial Outlook, stating:

‘Given the lack of parliamentary support the Government has decided not to proceed with this measure…’

Unlike the Coalition, Labor could see the budgetary risk of this measure.

As I told Parliament on 21 June 2017:

‘This bill has revenue implications, and that is why Labor will not be supporting schedule 2 of the bill. … In good fiscal times—if we had the rivers of gold that flowed during the Howard and Costello years, in which there were a series of fiscally profligate decisions made by the Liberals—maybe you could give an argument for supporting this. Labor believes we have to carefully scrutinise any widening of corporate tax concessions. Treasury were unable to offer guidance on the medium-term fiscal impact of this measure.’

Once again, Labor is pleased to have been able to save the Coalition from themselves.


Authorised by Noah Carroll, ALP, Canberra.

Showing 3 reactions

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  • Philip Brooks
    commented 2019-03-06 18:11:48 +1100
    Andrew, and let’s ignore the + $10 billon of public money wasted thanks to Rudd and Gillard’s failures on border control. Sadly the mess continues thanks to the stupid decision by shorten to support Dr Phelps bill. Labor will never learn Regards Phil
  • Stipe Jones
    commented 2018-12-27 23:15:58 +1100
    My for economics is a little different in that people from all disciplines discuss economics as if they knew what they are talking about. A few other fields are similar in this way but it doesn’t seem as common.
  • Philip Brooks
    commented 2018-12-17 22:39:03 +1100
    Andrew and let’s quietly forget the 10’s of billions of taxpayer dollars wasted thanks to labor policy on zero border control . All thanks to Labor and this mess is still being cleaned up by the liberals.
    And let’s also forget Wayne Swan’s endless promises of a surplus that never eventuated. Start looking at the big picture Andrew not trivia ,

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