All Canberrans will be in shock once they find out how much more they will have to pay, says ACT Liberal Leader Leanne Castley in response to Labor’s deficit budget reveal on Tuesday afternoon.
At a time when households across the ACT were suffering under a cost-of-living crisis with escalating grocery, fuel and housing expenses, the Labor government was slugging households with soaring tax increases, a deficit of more than $1.1 billion and debt growing to more than $22 billion.
“That means the interest costs on that debt will go from $522 million to around $1 billion per year, meaning more of your money goes towards paying the interest bill rather than improving essential services like hospitals and schools,” Castley said.
“Payroll tax is up by $400 million, household rates are up by $280 million along with a 58 per cent increase motor vehicle stamp duty. There will be an 11.8 per cent increase in taxes in the next 12 months.”
She said Labor’s billion dollar tax bill would hurt every household and make life much, much tougher.
“When households are already struggling to pay for groceries, fill up their car with fuel, and pay the rent or mortgage, this billion dollar tax bill will leave them worse off.
“It will mean holidays will have to be postponed, takeaway nights reduced and not attending social events, all because Labor have failed to manage the budget for the past decade.
“No wonder they have spent the past two weeks trying to put a positive spin on their figures, knowing full well they are about to hit Canberrans hard with the biggest taxing budget in ACT history.
“What worries me is that there is no end in sight for these tax increases, with the budget including a $250 per year tax to help pay for getting treated in a hospital.
“And these tax increases are just to pay the bills, not to improve current services.
“And after all of these massive tax increases, Canberrans are still left with the biggest debt in ACT history.”
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