Fake Treasury bashes Labor with fake tax hikes

Goodness me, via the AFR:

Scott Morrison has launched an early assault on Labor’s tax agenda by releasing Treasury modelling showing his opponents proposed increases and refusal to match the Coalition’s tax cuts would tally $387 billion during the next decade.

The use of Treasury modelling, which the government had prepared before Mr Morrison called a May 18 election on Thursday, signals a tough and bitter campaign ahead.

The government, which begins the campaign as the underdog, has also modelled Labor’s climate change policy, even though the policy detail is yet to be finalised, and is expected to unveil this during the campaign.

Chris Bowen is right to be pissed off:

Why is Treasury, a tax-payer funded organ, entering the political debate with partial analysis? Most of these revenue gains are justifiable economically and without putting them in broader national interest context they are meaningless beyond a politicised endorsement of Coalition views.

For instance, the franking credit and negative gearing reforms are ending tax dodges not hiking them. They will change the way the economy grows with relative winners and losers not worse off overall. How has Treasury accounted for that?

Or, why is not doing the Coalition’s egregious tax bracket flattening seen as a tax hike. We don’t know what a prospective Labor Government will do with revenue five years out. That’s if the revenue is even available given Budget commodity price estimates are far too high. Given Treasury’s shockingly bad record of forecasting why would believe any of this?

In short, Treasury has used fictitious revenue to declare a fictitious tax hike for a fictitious economy some time far into a fictitious future.

Give us all a break.

Comments

  1. kannigetMEMBER

    When Scummo said treasury, he was not referring to the Federal Treasury. He was talking about his elite team of creative spreadsheet gurus that the NLP has on staff and known internally as “The Treasury” because they treasure the value these guys provide to the honesty in politics.

  2. innocent bystander

    Shorten says the “Treasury will just say whatever the Govt want them to”.
    I am not sure he meant that literally, given Labor might soon be the Govt.

  3. There is no institution that Scummo will be defile.
    Step 1 for the new Labor government is to clean Treasury.

  4. Same issue at all levels of Australian government – the Coalition gets in, sacks the leadership and appoints its toadies who ignore the ‘frank and fearless’ mandate they’re meant to uphold. Only constitutional change enshrining the impartiality of the public service will prevent future meddling

  5. Poor Michael McCormack was asked to explain how this figure was come to on RN this morning. He had no idea and no reasonable explanation. If this is indicative of how the LNP are going to go about this election campaign then Fawlty Towers may be about to lose its crown as the the greatest comedy series of all time.

  6. HnH, you’re assuming these are Treasury figures. Look at the titles:
    “Retiree Tax”
    “Housing Tax”
    “Family Business Tax”

    Treasury, as bad as they are, wouldn’t use those titles. This is pure political bullshido from the LNP.

  7. The LNP seem more and more like Fake News Spin Doctors to me…

    Am I just growing more cynical, or does there appear to be more of this sort of thing these days?

    • With toads like Scummo, Frydenliar and Potato head at the helm, what else would you expect?

  8. FiftiesFibroShack

    I switched on YourMoney (aka Boomer TV) around lunchtime and a couple of end-stage boomerism victims were going full loon and suggesting these “extra taxes” would destroy the economy and lead to less revenue. All of this while there was a chyron claiming the ALP was ending tax deductions for accountant fees, avoiding any mention of the 3k cap.

    This is the first time I’ve seen a party run on policies that start to tackle boomerism. The sufferers are not pleased.

    And of course Pauline Hanson, who is 90% Liberal stooge and 100% idiot, is out shouting the same lies as the them.