08 May, 2012 | ACTU Media Release
Responding to the 2012 Federal Budget, ACTU President Ged Kearney said:
“The 2012-13 Federal Budget will help shape a fairer Australia, through a more progressive tax system, better assistance for low and middle income earners and protection for jobs in struggling businesses.
“The Government has had to perform a difficult balancing act in framing the 2012-13 Federal Budget. It has been driven by its objective of returning to surplus, but has also made several welcome commitments to create a fairer Australia. ...
“Specific initiatives we welcome from the Treasurer tonight include the Government’s commitment to the reduction of the inequitable tax concessions on superannuation contributions for high income earners, along with raising the tax free threshold to $18,000, which will mean about 630,000 low paid workers will not pay income tax.
“The crackdown on the living away from home allowance for executives is also good policy. The ACTU publicly called for this change at last year’s Tax Forum, as this is a straight out rort at the expense of working Australians.
“But what matters most is a plan to support Australian jobs, which are under pressure from the high dollar and a weak global economy.
“So we are pleased the Government is showing support for struggling industries, such as manufacturing, with the loss carry back initiative to give businesses experiencing financial difficulties some breathing space.
“This Budget is also sharing the benefits of the mining boom to low and middle income earners, through an increase to the Family Tax Benefit Part A and the new Supplementary Allowance for the unemployed, students, and parents on income support.
“We are also pleased with changes to the Liquid Assets Test, which will mean workers who lose their jobs will be able to keep more of their cash savings and access income support payments sooner.
“Unions also welcome funding to introduce the National Disability Insurance Scheme in 2013 and for aged care reform.”
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