Australia Under A Labor Government

The country voted on Saturday 21st May and we now have a new Prime Minister, Anthony Albanese.  With a change of leadership and a change of party there comes a change to policies. We’ll briefly outline a few of the new changes under a Labor Government.

Medicare And Your Health

Labor built Medicare and will always protect it.  They will deliver at least 50 Medicare Urgent Care Clinics, to take the pressure off our emergency departments.  Most clinics will bulk bill, meaning no out-of-pocket expenses. Labor revealed the most significant health commitment made by either party to date; promising a $970m investment in primary health and a boost for infrastructure upgrades in GP practices.

Childcare

An Albanese Labor Government will reduce the cost of child care and make it easier for mums, children and working families to get ahead.

Labor will:

  • Lift the maximum child care subsidy rate to 90% for families for the first child in care;
  • Increase child care subsidy rates for every family with one child in care earning less than $530,000 in household income;
  • Keep higher child care subsidy rates for the second and additional children in care;
  • Extend the increased subsidy to outside school hours care.

96% of Australian families will be better off under Labor’s child care reforms – 1.26 million families.

Housing

Labor’s housing schemes are means tested and include the “help to buy” plan that would see the government chip in as much as 40% of the price for a new home (30% for existing homes) for buyers with at least 2% deposit.  To the extent it pushes up prices, the policy has a sting, but with the program capped at 10,000 a year (compared with about 100,000 first homers entering the market) the issue may be its limited scope.

Lower Taxes

An Albanese Labor Government will deliver tax relief for more than 9 million Australians through the legislated tax cuts that benefit everyone with incomes above $45,000.

They will also support cost of living relief for Australians through an increase in the low-and-middle income tax offset by $420 this year.

Labor will provide certainty and clarity on tax to Australian working families after a difficult few years for our country and the world.

They will also focus on meaningful investments for maximum economic impact and community need, cracking down on waste and rorts, making sure multinationals are paying their fair share of tax.
 

Small Business

A Labor Government will deliver a Better Deal for Small Business, providing certainty to the small business community in times of crisis, ensuring they are paid on time and cutting transaction fees at the point of payment.

They will consider the specific needs of small businesses in times of crisis, giving the confidence and certainty to grow and plan for the future. Labor will work closely with states, territories, industry groups and communities to end the uncertainty that surrounds the extent of support small businesses are able to access in a crisis.

Ensure small businesses are paid on time to sustain growth across the economy with a mechanism to ensure payment within 30 days. The current average contract payment time sits at 37 days – well above the 30-day benchmark.
 
Reduce small business transaction costs at the point of payment with a clear timeline for implementing least cost routing or similar. Small businesses are disproportionately impacted by higher transaction fees that eat into profits – around $804 million a year.
 
Labor is committed to maximise small business participation in Commonwealth procurement, providing greater opportunities for business and Australian jobs. The Commonwealth can use its $190 billion purchasing power to support small businesses, delivering better value for money and growing the local economy, to build a Future Made in Australia.
 

 

Author

Peta Stephen