Australian Prime Minister Scott Morrison pledged on Monday to implement a similar Trump tax cut and cut bureaucratic procedures to boost the economy. Morrison’s first important speech after his re-election as Prime Minister also revealed that he would review the labor relations law and suppress the trade unions.
Morrison compares his economic plan with the economic plan of US President Trump. He said in Perth on Monday that Australia needs to break the cumbersome bureaucracy to “provoke the animal spirit of the economy.” “Although tax cuts have had a major impact on the United States, it is actually the Trump administration’s commitment to reduce red tape and change the bureaucracy of bureaucracy, so that their economy has shown an improvement trend for the first time,” Morrison said. “You can rest assured that I have made it clear to our public service executives at the beginning of this term that I want to come up with new ways of thinking in encouraging investment to become a reality. In order to inspire the ‘animal spirit’ that we urgently need in our economy, we It is also necessary to eliminate regulatory and bureaucratic barriers to corporate investment and create more jobs.”
Although the opposition party only got a lower first-round vote in the federal election last month, the prime minister pointed the gun at the Labor Party and pressured the Labor Party to support the second and third phases of his tax plan. He said that nearly four-fifths of Australians will benefit from these two stages, which will raise the tax threshold for low-income earners and reduce the maximum tax rate between $45,000 and $200,000. Morrison said: “They will get a greater return on their efforts, which will motivate them to work hard to get a raise or get promoted.” “We are simplifying the system to more closely align the mid-range tax rate with the corporate tax rate, And improve the job incentives by raising the tax rate to climb this ‘silent thief’.”
The new government will also pay attention to labor relations. Morrison confirmed that the new government’s focus is on the introduction of laws and the cancellation of the qualifications of unions or union officials who have repeatedly violated the law. He said that the Minister of Labor Relations, Christian Porter, will be responsible for reviewing how the system works and “there may be obstacles that hinder employers and employees from sharing benefits”. “Any change in this area must be based on evidence to protect workers’ rights and bring significant benefits to the economy and Australian workers.”
