Labor’s controversial tax changes and the mounting price pressures plaguing Australians are coming under the microscope at Thursday’s Senate Economics Committee.
Katy Gallagher in fiery Senate Estimates clash with Greens' Nick McKim over Treasurer's tax power grab Labor’s controversial tax changes and the mounting price pressures plaguing Australians are coming under the microscope in a tense Senate Estimates hearing.
Watch Senate Estimates live. Labor’s controversial tax changes and the mounting price pressures plaguing Australians are coming under the microscope at Thursday’s Senate Economics Committee. Finance Minister Katy Gallagher and Treasury Secretary Jenny Wilkinson are facing intense questioning over high inflation and Labor’s plans to alter capital gains tax, negative gearing and trusts.
“If you are serious about your reforms, why have you created a power in this legislation to allow your reforms to be walked back in the future,” Mr McKim asked Ms Gallagher. She replied: “That is not what it’s about – walking back. It is not unusual in complex legislation to have ministerial powers that usually have disallowance attached to them to deal with particular situations that might arise.
”Ms Gallagher said the powers were “useful” particularly when there was oversight by parliament.
“If you are serious about your reforms, why have you created powers that would allow a future Treasurer – from whatever political party they may belong to – to undermine the reforms? ” he asked. Ms Gallagher stressed that she had “answered the question”.
“The idea that we’re not serious when we have a published budget that’s raised quite a bit of interest – in case you haven’t noticed senator McKim over the last three weeks – the idea that we’re not serious about this is … I can’t take it seriously,” she said.
Senate Estimates Nick Mckim Jenny Wilkinson Reserve Bank Of Australia Katy Gallagher
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