Retirement
New subsidies, medical spend in the works under a Labor government
Labor leader Bill Shorten has revealed where savings from his rounds of tax cuts will be directed, and there are some subsidies in the works for working parents.
New subsidies, medical spend in the works under a Labor government
Labor leader Bill Shorten has revealed where savings from his rounds of tax cuts will be directed, and there are some subsidies in the works for working parents.
If his party is elected to govern on May 18, Mr Shorten’s Labor Party will:
- Direct $4 billion to subsidising childcare for Australian parents
- Direct $2.4 billion in dental care for those on the age pension
- Direct $537 million to fund an increase in childcare work
This policies will be funded by a range of tax cuts previously announced by the Labor Party, including limiting negative gearing and capital gains tax and scrapping cash refunds on excess dividend imputation credits.
Labor’s total spend so far is at about $9.2 billion, which is well within Treasury’s projected costings.
These announcements follow announced plans to invest $2.3 billion over the next four years into Medicare, to ease the financial burden cancer sufferers face.
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