Yesterday, Treasurer Scott Morrison stated the government had set a 23.9% of GDP “speed limit” on taxes, claiming now is the right time for income tax cuts:
We have a speed limit on taxes which we stick to – 23.9 per cent. That is as high as we believe taxes should be as a share of the economy and we will be sticking to that plan. Every time you hear the Labor Party say the words ‘budget repair’ know that it means one thing – higher taxes. They haven’t got a plan to live within their means. They haven’t got a plan to keep expenditure under control. All they have got a plan for is higher taxes. At this election there is a clear choice – the Liberal and National Parties, the Turnbull Government is for lower taxes and Bill Shorten and the Labor Party are for higher taxes. Under Labor you will pay more.
