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Exact(35)
It's a deficit levy.
Leyonhjelm said "a deficit levy equals a tax increase.
The deficit levy will apply to people on incomes of more than $180,000.
11.28am BST On the specifics, Christine Milne is saying no on the co-payments and no on the deficit levy.
Like "revenue", "receipts", co-payments" and "levy" – hence a flood levy, co-paymentsnd now andeficit levy.
Labor is also factoring in $16bn in extra revenue from its decision to retain the 2% deficit levy for those earning over $180,000.
Similar(25)
But on Tuesday Abbott refused to rule out a "temporary deficit reduction levy".
And those on more than $180,000 will next year be freed from the Abbott-era 2% deficit repair levy as well.
"There's been speculation, as you know, about a deficit reduction levy, certainly it is my intention that people like myself, high-income earners, should bear a significant quantum of the burden when it comes to sorting out our problems.
A fair policy, by contrast, would reduce the deficit by levying a capital gains tax charge on the post-crash gains of this Midas-rich 1,000, which at the current 28% rate should raise up to £53bn, more than enough to kickstart the economy and create a million or more jobs – without any increase at all in public borrowing (Osborne please note).
"In the spending review, there were no new measures to ensure that those who caused the crisis pay their fair share towards paying down the deficit and the draft bank levy legislation published today falls far short of the decisive action we need and is an insult to those losing benefits and local services", he said.
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