TRANSCRIPT
Labor has won its first political battle of the year, with changes to stage three tax cuts passing federal parliament.
"This is a huge win for all 13.6 million Australian taxpayers. It means that 84% of Australians will get a bigger tax cut than they would have under the Liberals' plan."
The stage three tax cuts were the final step of tax changes legislated by the former Coalition government.
The first two stages focused on changes to lower tax brackets, with the final stage removing a tax bracket and taxing income between $45,000 and $200,000 at a rate of 30 per cent.
The new plan spreads cuts across the existing tax brackets, reducing the 32.5 bracket to 30 per cent, and increasing the thresholds for tax brackets.
As a result, Australians earning less than $150,000 will get a larger tax cut, whilst those on higher incomes will see a more modest cut than was previously planned.
Labor vowed it wouldn't make changes to the tax cuts ahead of the 2022 election, but broke that promise earlier this year.
Prime Minister Anthony Albanese says the change in economic circumstances forced them to make changes.
"We made not an easy decision, we made the right decision for all the right reasons. We know that families are under cost of living pressure. The idea that we could sit back and ignore the clear recommendations that this was the best way that we could have an impact on providing that assistance to middle Australia without putting upward pressure on inflation - we couldn't ignore that."
The Coalition voted in favor of the changes, but have labelled the move a breach of trust.
Angus Taylor says he is disappointed in the way the changes came about.
"We're supportive as you know, very supportive of tax relief. What we're not supportive of is the way this government chose to fund it, which was to break a promise that they made, the Prime Minister and the Treasurer, over 100 times. That's not how you fund the very welcome relief that Australians deserve. You do it by keeping your promises and by managing your finances."
One piece of legislation won't end the cost of living crisis.
The cost of groceries is a key focus, amid concerns the two major supermarkets have been unfairly driving up prices.
The government directed the Australian Competition and Consumer Commission to review prices and competition in the sector, and commissioned a review into the grocery code of conduct that governs how supermarkets treat suppliers.
But additional reviews aren't enough for some MPs.
Dressed in air-powered pig costumes and snuffling from troughs of cash, Independent MPs Bob Katter and Andrew Wilkie called for immediate action to address the ever-increasing prices.
They suggest forced divestiture, and appointing a Commissioner to address anti-competitive behaviour.
Andrew Wilkie says a lack of regulation is allowing retailers to charge what they want.
"These supermarkets, they have a thumping big monopoly and they use that monopoly and that power from their monopoly to charge whatever they want. Sure they have a few cheap items to get us in the front door. But when you go down the aisles and get everything else, heavens, your eyes water and you pay for it at the checkout."
Mr Wilkie says forced divestiture would help improve competition.
"If this bill could be passed into law, that each year for five years, both Woolworths and Coles would have to divest themselves of 5% of the market share. In other words, 5% Woolies 5% Coles that's 10% a year. So over five years, Woolies and Coles would go from around 70% down to about 20%. And that would bring Australia into line with similar countries around the world."
Bob Katter says supermarkets' behaviour is also hurting farmers.
"That's $3.60 you paid for your potatoes and they paid the farmers 99 cents. Now it doesn't matter if we're going to talk about tomatoes or bananas or milk or sugar or eggs. I mean, we're just gonna continue with screwing the farmers down through the floor, and charging the consumers a squillion dollars."
Pig costumes weren't the only performance at Parliament House.
As parties gear up for the Dunkley by-election on Saturday, politicians are looking at any way to grab attention.
Health Minister Mark Butler invited social media influencers into the building, and stood beside crates of vapes whilst announcing a new public health campaign targeting younger Australians.
The stunt exposed him to questions about private health insurance premiums.
Health insurance companies are required to submit proposed premium increases to the Federal Government, justifying any increases they seek to be approved by the government.
The Australian newspaper has reported that health funds are concerned that Labor is delaying a call on how much premiums can be raised until after the by-election.
Mr Butler denies the claim, saying it's not out of the ordinary to approve increases in March.
"I'm going through a proper process and I've gone back to the industry and indicated my expectation they sharpen their pencil. It is not unusual at all for these decisions to be made in the last week of February or the first weeks of March: in the Howard government that was that the custom. The last week of February or the first two weeks of March were the customary times for these decisions to be made in the Howard Government, in the Rudd Government, in the Gillard government."
