The opposition leader will deliver his reply to the treasurer’s fourth budget as pressure mounts for a major economic policy ahead of the election.
Australians struggling with rising bills call for more help than a meagre tax cut as the opposition leader prepares to reveal a cost-of-living policy.
Peter Dutton will deliver his reply to the federal budget – and kick-start their election campaign – tonight and flagged a major policy announcement to deal with cost of living, after Labor used it to announce a two-phase tax cut.
Mr Dutton is expected to promise the coalition would halve the fuel excise for 12 months, lowering the rate on petrol and diesel from about 50 cents to 25 cents per litre.
The coalition voted against the tax cuts baked into the budget after passing parliament on Wednesday, saying they were too little, too late for struggling Australians.
Taxpayers will save up to $268 on their tax bills in 2026/27 and up to $536 every year after under Labor’s proposal.
“What’s obvious here is that a 70-cent-a-day tax cut in 15 months’ time is just not going to help families today who are really suffering,” Mr Dutton said.
“We do want to help families address the cost-of-living crisis, we do want to address the energy crisis.”
Treasurer Jim Chalmers branded the cuts “modest in isolation but substantial when combined with all of the ways that we are helping”.
The opposition voted against the cuts, with shadow treasurer Angus Taylor chastising Labor for producing a budget “for the next five weeks, not the next five years,” referring to the imminent election campaign.
But he was attacked by the treasurer for voting against tax relief on the same day inflation moderated further.
“Spare us the lectures about inflation and living standards, if you really cared about the cost of living, you would have voted for our tax cuts,” Dr Chalmers said.
Mr Taylor didn’t rule out larger tax cuts being offered by the coalition, but the opposition has so far remained tight-lipped on tax relief or economic policy it will offer voters at the election.
Member for New England Barnaby Joyce has branded the budget a ‘Balmain Budget Brain Burp’.
“This is the budget one has when they did not think they would have to provide a budget.
“For the New England, we got no dams, no new roads, no new mobile phone towers and no new medical facilities. But we are getting new intermittent power precincts littered all over our land,” Joyce said.
“Labor has no new funding for the Stronger Communities program, Local Roads and Community Infrastructure program, Growing Regions Program, and the Regional Precincts and Partnership program, all of which are critical to building community infrastructure in regional Australia.”
Outgoing member for Parkes Mark Coulton said there is absolutely nothing in this Budget for regional Australia, other than more cuts.
“Labor has again deferred $190 million in funding for Paradise Dam, Hughenden Irrigation Scheme and Big Rocks Weir, while hiding the cost of its Murray-Darling Basin Plan.”
Mr Coulton said Labor is obviously raiding what was left of regional community programs to pay for 41,000 new Canberra public servants. The Budget has no money for extra childcare places in the Parkes electorate or anything to fix a few roads or even a pothole.
“Regional Australians in the Parkes electorate will not only bear the brunt of more infrastructure cuts, but have the extra burden of Labor’s cost-of-living crisis.”
The opposition has also pledged to fast-track gas approvals and extend ageing coal-fired power plants to reduce electricity prices in the medium term, in a move slammed by environmental groups.
Speculation is increasing the prime minister will call the election as early as Friday, firing the starting gun on a minimum 33-day campaign that will end with voters going to the polls in May.
Mr Dutton will deliver his speech in reply to the Budget in the parliament tonight at 7.30pm.
Follow all the New England Times coverage of the federal election here or have your say on Engage