Time to push solutions not buttons.
I’m back in Queensland this week getting ready for a cyclone and a Federal election. As a Senator it’s important to hold the government to account.
And as I outlined last week I have tried to do that for the last six years.
However if we want to see minor parties take out the major parties it’s not enough to just push buttons.
We have to be able to push solutions.
At People First we have three key policies to deal with cost of living issues:
• Lower Income taxes
• Voluntary Superannuation
• More flexible Childcare support
However we need to change the underlying structural problems in our economy. Because of these structural issues we have too much debt in this country – both house and government.
Two significant problems with our Government settings are:
• The offshore company tax rate is lower than the onshore tax rate. This encourages profits to be sent offshore only to have those profits recycled as debt back into Australia.
• No capital controls. When Capital controls were lifted in 1985 this resulted in foreign debt flooding into Australia which saw house prices increase relative to earnings forcing two parents back to work.
As a result our children ended up in childcare. After the GFC foreign students were allowed to buy houses which saw human capital flood into this country to prop up bank profits.
People First has the solutions to these problems.
First we will increase withholding tax rates on profits sent offshore to stop capital outflows.
Secondly we will reinstate Capital Controls and create an Infrastructure Bank and Public Bank so that we use our sovereign capital not foreign capital.
