Australia Election 2019 How the Liberal Party Focused on Tax and Economic Management blog image

Australia Election 2019: How the Liberal Party Focused on Tax and Economic Management

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PM Scott Morrison has thanked voters for his conservative coalition’s re-election in a shocking result

Morrison said he had always believed in miracles. Opposition Labor Party leader Bill Shorten has resigned after the Labor Party’s defeat. 16.4 million voters enrolled for the election.

It had been assumed that it would be Labor’s turn to govern after the coalition has lagged behind Labor in opinion polls for over two years. However, Morrison was able to turn things around by answering Labor’s policy agenda and making his campaign about tax and economic management. He created a new image and promised to focus on the economy as Labor campaigned for big changes to tax, including negative gearing and franking credits. Shorten promised to cut tax breaks for investors.

Morrison’s message claimed that Labor was a high risk to the economy and Shorten would take money from the people’s pockets. Labor, on the other hand, campaigned for health, wages and climate change. Now that the Coalition is back in power, young families will get a tax cut up to $1,080 every tax return for workers earning between $48,000 and $90,000 from July 2020. Those with lower income will receive tax cuts albeit a little less than what Labor promised. Higher income earners, on the other hand, avoid the possible higher taxation under a Labor government. Legislated tax cuts will continue over the next three years.

The empty nesters will still be able to receive franking credit cash refunds on Australian share dividends, which Labor had proposed to eliminate. The Coalition will remove the work test for voluntary super contributions for people aged 65 or 66.

Shorten had called Morrison to congratulate him as the latter thanked his opponent and paid tribute to the “quiet Australians” who had voted for the Coalition.

It has been those Australians who have worked hard every day, they have their dreams, they have their aspirations, to get a job, to get an apprenticeship, to start a business, to meet someone amazing. To start a family, to buy a home, to work hard and provide the best you can for your kids. To save for your retirement. These are the quiet Australians who have won a great victory tonight!

Treasurer Josh Frydenberg fought a good challenge for his seat in Melbourne and attributed the success of the Coalition to the voters’ economic choice.

Early in its campaign, Labor stated that if the voters change the government, they change the country. However, most Australians seem to think that they currently appreciate the status quo.

 

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