The job ignores the most painless and justified tax hike of all

The “modest and responsible” labor tax changes will leave one of the biggest rip-offs in Australian history intact.

Shadow Treasurer Jim Chalmers (Image: AAP / Mick Tsikas)

“modest and responsible” is how Labor describes its plan to increase the tax levy on multinational corporations by limiting deductions and implementing the OECD minimum tax of 15%.

Together with the cut in spending on public service consultants and the end of the Coalition’s rot and pork barrel, it forms the centerpiece of the opposition’s decidedly unambitious tax plan.

The multinational crackdown will raise just $ 1.89 billion compared to future estimates, in part due to a delayed introduction until 2023.

Read more about how Labor’s fiscal policy won’t stop the rip-offs.

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