After a gruelling eight-week election campaign, polls in Australia close in just a few hours. This federal election is the most important Australia has had in a generation.
The mining construction boom helped us avoid the worst of the Global Financial Crisis. However, this does not mean that jobs and growth are guaranteed in the future. The Coalition, led by Malcolm Turnbull, has a plan for jobs and growth in a 21st century economy. We know that governments do not create jobs. Businesses create jobs. That’s why we want to foster business, especially small business, allowing them to maximise their opportunities, expand and create jobs.
Our free trade agreements with China, Japan and Korea, and the TPP, are already reaping the benefits. We’ve abolished the job-destroying carbon and mining taxes and given further tax relief to lower- and middle-income households, via the low-income super contribution, and increasing the threshold for the second-top personal tax rate (from $80,000 to $87,000), meaning half-a-million Australians on average wages will not pay 37 cents of their next dollar earned to the Government. Our 10-year enterprise tax plan presents a path to lower business taxes and a corporate tax rate of 25%, prioritising small businesses (with a turnover of under $10 million). Our innovation and science agenda offers incentives for startups because we want Australians invest in their ideas and bring their visions to market.
Furthermore, by reigning in government expenditure, we have the Budget on a path back to surplus, which will relieve pressure on our world class healthcare and social service systems, currently being funded by more and more debt. By contrast, Labor, led by the unions and Bill Shorten, has an agenda to destroy jobs and stymie growth. They’ve committed to increasing taxes by more than $100 billion, increasing future deficits by $16 billion, smashing house prices and increasing rents for everyone, and ramping up pressure on our healthcare an social services by increasing public debt.
When last in government, the Rudd-Gillard-Rudd-Greens-Indepenent-Labor Government bequeathed our worst Budget deficit in history and a spending program which was out of control. Bill Shorten plans to do the same. We must reelect the Turnbull-Coalition-Government to see through our strong economic plan for jobs and growth, which is already reaping rewards.
International Young Democrat Union