Labor to block pension rise, levy, Medicare shift

Advertisement
imgres

Nobody has been able to substantially and sustainably reform anything for ten years in Australia as special interests have mastered the political process. And, here we go again:

…opposition families spokeswoman Jenny Macklin said it was a broken promise and Labor would not be supporting it.

“The Prime Minister has no mandate to make changes to pensions in this year’s budget – regardless of when these measures commence,’’ she said.

“This is the first recommendation from the commission of audit that the government has responded to explicitly.’’

…Labor is also threatening to block the proposed deficit tax and Medicare co-payments, arguing the former is a broken promise and the latter would undermine the universal health care system.

“Your wealth should not determine your health,” said shadow treasurer, Chris Bowen.

MB has its problems with these measures but nobody is arguing that they should be improved. It’s block and damned. That will leave the Senate ball in Clive Palmer’s court and God knows what toll of creation extortion he will take on the process.

Advertisement

Go Australia!

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.