It’s not shaping up as any kind of spectacular election Budget if the initial leaks are anything to go by. The Australian reports:
Scott Morrison has dumped plans for a 0.5 per cent hike in the Medicare Levy from next year to fill Labor’s $57 billion funding shortfall for the National Disability Insurance Scheme, claiming that a stronger economy had delivered an unexpected budget revenue windfall that would now entirely cover the cost of the scheme.
The move, to be announced in a pre-budget speech to the Australian Business Economists in Sydney today, will spare workers and their families from an added annual tax bill scheduled to start in July 2019 of between $100 for low income earners and almost $1250 at the higher end of the scale.
