LABOR CAMPAIGN PROMISES
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Fiscal plan
* Balance the budget in 2020
* Bigger surpluses over the medium term than the coalition
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Tax
* Match government's income tax cuts for 6.4 million Australians earning between $38,000 and $126,000 a year.
* Extend income tax cuts to 3.6 million Australians earning less than $40,000 a year, at a cost of $1 billion.
* Australian Investment Guarantee, allowing all companies investing in Australia to "immediately expense" 20 per cent of the value of eligible depreciable assets in the first year of all new investments, with regular depreciation schedules to apply from the first year onwards.
* Reduce company tax for small businesses, oppose company tax cuts for big business.
* Reform negative gearing and capital gains taxes, targeted tax treatment of discretionary trusts and removing the payment of franking credits.
* Reduce multinational and high-wealth tax avoidance, aimed at generating $4.8 billion in additional taxation revenue over the next decade.
* Preventing big corporations using dodgy royalties to avoid tax ($2 billion benefit to budget)
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Education:
* Review of all higher education within the first 100 days in office.
* Restore $14 billion over 10 years to public schools, and $250 million to disadvantaged Catholic schools with its first two years of government.
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Skills and training
* $1 billion TAFE and apprenticeship plan
* Double its 'rebuilding TAFE fund' to $200 million to renovate campuses in suburban and regional areas.
* Pay the up-front fees for 100,000 TAFE places in high priority courses including 20,000 for aged care workers in the National Disability Insurance Scheme.
* End the freeze to university funding, allowing for an additional 200,000 local enrolments.
* Universal access to preschool and kinder for three- and four-year old children.
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Health
* Pledge to spend total of $8.5 billion more on health than the coalition.
* End the Medicare rebate freeze within first 50 days.
* Medicare Cancer Plan to reduce out-of-pocket costs for cancer patients. An additional $2.3 billion in Medicare funding will include $600 million for out of pocket diagnostic imaging and $430 million for specialist consultations over four years, covering the cost of all MRI machines.
* $2.4 billion for free dental care for pensioners
* $2.8 billion extra for public hospitals, including $500 million for emergency departments
* $197 million for more Headspace centres for mental health support
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Infrastructure
* Infrastructure Australia to get a $10 billion funding facility.
* $22 billion for road, rail, airport and community facilities
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Climate change/Environment
* $5 billion Energy Security and Modernisation Fund
* $10 billion extra for Clean Energy Finance Corporation over five years
* Incentives for electric vehicle manufacturing and infrastructure investment
* $2000 rebate for household solar battery storage systems, and $1 billion investment in hydrogen technologies
* $1 billion environment package, including new Environmental Protection Agency.
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Other
* $1 billion advanced manufacturing future fund
* $250 million regional tourism fund
* $660 million for preventing family violence
* Better ABC funding
* Remove the staffing cap on the NDIS.
* Wages boost for child care workers ($537 million)
* Eliminate mobile black spots.
* Support for dairy farmers
* Assistance to restock the cattle herd of north Queensland
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LIBERAL PROMISES
Fiscal Plan
* Balance the budget in 2020
* Budget surpluses over the next four years and beyond
* Public service efficiency dividend (two per cent) to be extended for two years, reaping $1.5 billion over next four years. It will step down to 1.5 per cent in 2021/22 and one per cent in 2022/23.
* Net debt eliminated in 2029/30.
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Tax
* Three-stage personal income tax plan, resulting in 94 per cent of taxpayers being in the 30 cents in the dollar bracket by 2024.
* Small and medium businesses to have a 25 per cent tax rate in 2021.
* Increased and expanded instant asset write-off. Increased from $25,000 to $30,000 and it can be used every time an asset under that amount is purchased. Expanded so medium-sized businesses with a turnover up to $50 million can access it.
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Education/Training
* $3 billion a year on vocational education and training
* $17 billion a year for higher education
* $1.2 billion Choice and Affordability Fund for Catholic and independent schools.
* $37 billion over four years on child care, including subsidies for parents
* 15 hours a week preschool
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Health
* $20 billion medical research future fund
* Continued support for Pharmaceutical Benefits Scheme
* Medicare funding at record levels. $6 billion extra over next four years.
* $1.6 billion package to strengthen primary care
* Expansion of headspace mental health services, including largest youth suicide plan in history
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Infrastructure
* $100 billion plan over 10 years
* $4 billion urban congestion plan
* $4.5 billion regional roads plan
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Climate/Environment
* $3.5 billion Climate Solutions Fund
* $100 million recycling investment fund
* $100 million support for environmental restoration and protection
* $216 million Kakadu National Park upgrade
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Other
* $3.9 billion future drought fund
* Reduce migration ceiling to 160,000 places a year, and cap refugee numbers at 18,750
* $200 billion defence investment over 10 years, to reach two per cent of GDP by 2020.
* First-home loan deposit scheme
* Funding to boost women's participation in sport, including change rooms
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(SOURCE: https://www.liberal.org.au/our-policies and Labor documents)
Australian Associated Press
