The Turnbull Government is so economically inept which has meant Australians are struggling to buy their first home, home ownership rate is the lowest it’s been in 60 years.
There are major challenges in the Australian economy, sluggish wage growth, inequality at a 75 year high and yet the government is looking around for someone else to blame instead of taking responsibility.
In 2013 the Abbott/Turnbull government said Australia would have the budget in surplus in their first year and in every year after that. They organised a campaign and slogan of “debt and deficit disasters,” with the novel idea driving debt trucks around Australia. Jump forward to 2016 and the Abbott/Turnbull Government has seen this year’s deficit grow eight times larger.
Prime Minister Malcolm Turnbull and Treasure Scott Morrison are fixated on a company tax cut while possibly scraficing Australia’s AAA credit raiting. They are both fixated on the idea that the real problem with the large business is that they’re paying too much tax. The reality is the share of big Australian companies that didn’t pay any tax in the last reporting year is 36%.
Despite the figures showing more than 1 in 3 large firms pay no tax, the Turnbull Government still believes that cutting company tax rates should be Australia’s top economic priority.