Your Capital, The Government’s Gain: The Budget Raid on Your Future

‍Labor’s Budget of broken promises and cuts has obliterated a fair go for Dawson, while doubling down on its tone-deaf reckless race to renewables and net zero fantasy.

The Prime Minister’s lies will increase taxes, lower living standards and cut funding to Dawson.

“Regional Australians in Dawson are the innocent victims of Labor’s all-out assault on aspiration,” Andrew Willcox MP said.

“Labor’s broken promises on tax betrays the trust of families in Dawson and will see regional Australians pay more.

“Even on Labor’s own figures, disposable income per capita will fall and real wages will decline.

“Labor knows that their Budget cheats Australians in Dawson, because they have issued a cheat sheet to all of their MPs.

“In the regions, not only does Labor’s Budget make people poorer, they also suffer cuts to the productivity-enhancing infrastructure that could make all Australians richer.”

Mr Willcox described this budget as a high-tax, high-spending blueprint that abandons the people of regional Queensland.

“Labor is attempting to distract families with a $250 tax benefit that most people won’t even see in their bank accounts until 2028.

“This is a slap in the face, it doesn't even cover the promised $275 power bill reduction that Anthony Albanese failed to deliver.

“The message from this government to every Australian who has worked hard to get ahead is clear: here come the taxes.

“By raiding the capital gains discount and scrapping negative gearing for future purchases of established homes, Labor is penalising success and making it even harder for the next generation to achieve the Australian dream.”

Across the Budget, regional Australians face at least $11 billion worth of cuts, including:

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$6.15 billion cut from the Inland Rail project;

$4.7 billion cut from infrastructure spending;

$103 million cut from the National Water Grid;

‍$191.6 million cut from pest and disease, regional trade and drought funding for farmers; and $21.4 million cut from regional communications funding.

Mr Willcox said that despite cutting funding to essential services in the regions, Labor continues to blow a small fortune on its net zero obsession.

“This Budget reveals that Labor will spend another $18.2 billion on net zero,” he said.

“Labor’s net zero spending now equals at least $80 billion. This does not include the massively expensive Capacity Investment Scheme, because Labor continues to hide the cost of its renewable energy subsidies.

“Labor’s dodgy and disastrous net zero ambition is unravelling, but rather than admit defeat, Labor continues to waste taxpayer funds in Dawson, in a desperate attempt to keep net zero on life support.

“Net zero is dead and the sooner Labor recognises that, the more money Australians will save.

“The Nationals will dump net zero and we will fight tooth and nail at the next election to stop this madness, which has come to a terrible head in this Budget.

“All Labor’s extra net zero spending does is fuel inflation and see interest rates climb higher. Labor’s broken promises Budget adds another $12 billion in extra spending over the next two years from its policy decisions.”

Mr Willcox also noted that Labor’s addiction to mass migration is also adding to inflationary pressures.

“Labor plans for almost 300,000 people to migrate to Australia (in net terms) next financial year,” he said.

“Labor is ignoring the will of the Australian people who want to see lower migration so that the pressure on housing, hospitals and other services is reduced. This Budget sees Labor overshoot its migration target by 90,000 people over the next two years.

“Labor has flown the white flag on trying to increase the wealth of Australians. This Budget does not invest in new roads, new dams and new mines to increase Australia’s economy. Under Labor’s Budget, mining investment falls to ZERO in 2027-28.

“The Nationals believe that Australia can deliver higher living standards, but only if we unleash our nation’s latent potential by using all of our resources and talent.”

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ENDS

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CONTACT
Amanda Wright | Media & Communications Adviser
P | 07 4944 0662   M | 0455 456 705   E | Amanda.Wright@aph.gov.au

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