‘What a fraud’: Andrew Bolt blasts Albanese government's ‘socialist left’ regime

Today is another wake up to the fact that this really is a socialist left government.So keen to spend money, no idea what it takes to earn it.Now, let me illustrate our point, our problem, with an amazing stat.Over in Britain, former Labor Prime Minister Tony Blair has just published a 5 ,600 word essay savaging the Labor government over there, making this same point.or spend, no earn.And he warns by the end of this decade, Britain could be spending more on incapacity and disability benefits than on defence and says no serious country can do that.

Except that makes Australia a very, very unserious country because our Albanese government will next year spend $63 billion on our defence, but it will spend 50 % more than that on disability schemes and benefits and carers.So it's not surprising then that our government is so desperate for more money that it's making this cash grab on people who start and invest in the businesses that we desperately need to pay for all the benefits we keep voting for.And the Prime Minister and his ministers, well, they dress up these higher taxes on capital gains from these investments in a socialist mantra that capital, it's got to be taxed like wages, as if the two are the same.

That is better aligning income from work with income from assets.That's called tax reform.

Taxes paid on income from assets should be better aligned to taxes paid on wages.

Better aligning the tax treatment of labour and assets, Mr Speaker.

But as Tony Blair also said in that manifesto against the modern left, the left's call for equalising capital gains and income tax is something rejected by successive governments for good reason.And one of the main reasons is plain, wages are not the same as capital gains.You earn a wage, you generally don't risk losing everything, you start a business, invest in it, and you could lose it all.And if people get taxed out of taking that risk, we are in such terrible strife.Without innovation, without investment in new businesses, this country is going to get much poorer very fast.Now today, another Labor leader could sure see that.

And he called for the Albanese government to at least exclude the kind of businesses that has made his state rich.That's Roger Cook, Premier of Western Australia.

We want to make sure that it doesn't disincentivise both international investment in our major projects, but also exploration by our small miners.

But I have to admit, if this Albanese government is financially incompetent, it at least is sure brilliant at spin and politics, although I suspect Australians now see through that as well.This morning Treasurer Jim Chalmers tried the most outrageous stunt.You know, he rushed in a bill that included his capital gains tax changes when the bill didn't actually say who would pay for it, which people exactly would be paying and which would be exempted under the changes that even Labor people are now demanding.Oh no, says Chalmers.the detail is yet to come.

Government is consulting with stakeholders on the treatment of capital gains of small and start -up businesses where indexation is applied to a low or zero cost base.Further consideration will also be given to a range of specific details, such as interactions with attribution -managed investment trusts, tax consolidation, residency changes, along with other relevant issues.And where appropriate, these details will be finalised in subsequent legislation following consultation.

Let me translate that googly gook.This is madness.That's all.It's madness.Because the first thing you want to know about a new tax is, who's going to pay it?But here we have the government saying, well, we'll work that out later.

Let's put this in law first.What on earth then is this bill for?And the answer is for a shabby political trick.The government is including in this bill, it's unrelated promise to give taxpayers $250.just a fraction of the bracket creep that you lose every year.So that if the opposition now says no to the capital gains change as opposed to this bill, Labor can say something as dishonest as this.

We know that these changes are contentious.We have seen dishonest scare campaigns already and deliberate distortions of the truth.But it's also a fact that this bill presents a choice.A choice between cutting income taxes for Australian workers or keeping them higher.A choice between standing with first home buyers or locking more Australians out of the housing market, Mr Speaker.

What a fraud.Opposition leader Angus Taylor was bang on today.that these higher taxes on capital gains are negative gearing.It's a broken promise.

And this is an underhand move.Frankly, Labor should have taken this to the people and their refusal to do so says they are cowards, they are liars and they are sending Australian small businesses down the stream.

Let me finish on one more laughable bit of spin from the government.I mean, outrageously, chutzpah!I mean, it's this brazen boast from the aged care minister dismissing calls from the Liberals, particularly from the Nationals today under Matt Canavan, a new election, if you want a mandate, go to a new election.He dismisses these calls, the aged care minister, because get this, Australians trust this Prime Minister who, by the way, lied and lied and lied to them.

Australian people emphatically re -elected the Albanese Labor government.But not on these changes.Yeah, but they trust their governments.They trust Anthony Albanese as the Prime Minister of Australia to look at the circumstances that our country faces and to make the best decisions in our national interest.

We trust the Albanese.We trust them to lie.Yeah, I'll tick.And we'd trust them to spend, perhaps.We'd trust them to tax, for sure.And that's especially when the government's hand -picked head of treasury today, I mean, talk about chutzpah day, today was defending this tax grab and rejecting the critics with this astonishing line.

In some instances, this may largely reflect the fact that individuals are sensitive about paying additional tax, which is totally understandable.But revenue needs to be raised from somewhere.

Oh, we've got to get more money from somewhere.Hey, how about cutting spending?Cutting spending instead, or helping this country grow.I mean, trust Albanese?If only we could trust him to help this country of ours get richer before it all hits the fan.