Fiery tax debate explodes live on air | Today Show Australia

Welcome back.Well, budget tensions have well and truly boiled over in Question Time.To discuss, I'm joined by ALP President Wayne Swan and Independent MP Dai Lee.Good morning guys, nice to see you.Wayne, you're first up.Angus Taylor reckons the PM is an arrogant prick.

Do you agree?Well, he's cracking under pressure to me.He can't sort of take the pace of the debate.Can't handle it.You don't do that in politics.No one from your side has ever done that?

Well, people have done it before and it hasn't worked well for them, so it doesn't make him a leader.That's the problem.Dyer, what do you reckon about it?

I suppose I heard that.I mean, I didn't hear it because I was at the back.I didn't hear what he actually said.But it's within a parliamentary setting.So we heard from the speaker that it is unparliamentary to express those words in the House.But I have no doubt that Angus was just expressing what a lot of people are saying online, on social media, everywhere, anyway.

You know, people are out there saying, why can't we say those things?But as an elected member of Parliament, you are supposed to have a bit more.

I think it's probably good for his numbers, Wayne.I mean, it is probably widely circulating in the general public.Oh, we get lots of character references all the time, as do public figures like yourself, Carl.No, no, plenty.Don't worry about it.Look, the Treasury Secretary says it's not supply, it's about redistribution of wealth.

So why is the PM and Treasurer saying otherwise, Wayne?

Well, it's about both.It's about making sure that the tax system works for all and that some people don't receive privilege access to tax cuts and that's what's been going on.It's distorted the housing market in favour of investors against home buyers or first home buyers in particular.This is a long overdue reform, it's a modest reform, but it's a very important one to make sure that our housing market is operating properly, but also to give a fair go to people in the tax system who go to work and pay their marginal rate and don'tget these tax advantages that people do generally with tens of millions of dollars.But it's not about supply.

But can I say, look, I agree we need some form of tax reform.Why wasn't this taken to the public at the last election, first of all?Secondly, sure, the marginal tax rate, we need to do something about it.And why didn't we do anything to fix the income threshold, which is still currently a 2012 figure, which is eighteen thousand five hundred.

I don't know, I put it in there.

So, yeah, yeah.Well, so why is still remain that way?Biggest increase in years.Well, tax reform is an ongoing project.Why is it that way?We're still being taxed.

And yet at the same time, instead of reining in government spending and doing something about bureaucracy, we've increased public service.So the cost is not, it's, you know, people, workers, as you talk about, the workers are actually bearing the brunt of it.So you should be supporting this package.

And also, well, this package is not going to do anything, we hear this morning, for rent prices either.They're predicted to go up by the end of the decade.So if you're not hitting the housing targets and you're not hitting supply, what is it good for other than a redistribution of wealth as you say?

Well it's not just about redistribution of wealth, it's about a fairer tax system and a housing market that works particularly for younger Australians.Intergenerationally, younger Australians have been getting a raw deal on the housing market.But how are they winning out on rents going up?$2 a week is the Treasury figure.If you want to rely on the modelling that's bouncing around the day, it looks like it's rubbish to me.But the fact is, it is a good fundamental reform.

People have called for it for years.The government has put it in place.And it's going to be for the better of the country over the long term.So not change it?If you want to talk about having a better economy, let's do these very important reforms.

in 2028.the election, and say to the people, this is what you're going to do in the 2028 election and say, vote for it.I think that's just to be fair and to be transparent and honest with the public about it.But have been transparent and honest about it.You talk about, you know, we need this reform, absolutely.But you didn't consult.

Like, businesses are impacted.Talk about renters.I've got 46 % people in Fowler rent.their rent is going to increase.Now, how do you address that by saying, oh, they get $1 ,000 claim on their tax and $250, you know, tax offset?Like really, how is that going to actually balance with the increase in rent, increase in energy bills, increase in grocery prices, increase in everything else?

So, You know, do the Labor government really take us for fools or something to say, oh, here's some small change?Well, I'll tell you what, Di, people in your electorate will be a lot better off over time for this package compared to many others.Really?How do you know?I've had young people telling me they're living with their parents, right?Exactly, that's what we need to afford.

They're trying to save money to invest in a property.Now they're not going to have any benefit.Now they can't.They can't do it.That's just not true.It's all about making sure young people in your electorate can buy a home over time.