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Liberal leader Peter Dutton has thrown a cost-of-living Hail Mary at voters, promising to halve the rate of fuel excise for a year, which would cost the federal budget $6 billion.
Dutton boasted that his policy would take effect as soon as the Coalition wins office, unlike Labor’s new tax cuts that are more than a year away.
“If elected, we will deliver this cost of living relief immediately — whereas people have to wait 15 months for Labor’s 70-cents-a-day tax tweak”, Dutton said in a statement.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.