Budget Increase in tobacco excise confirmed

Sydney morning 12 April 2016

•  Tobacco taxes will increase in the May budget
• Australia had a "spending problem , not a revenue problem"
• $47 billion over 10 years

      

 Mr Morrison shifts on tax rises after dire warning . Government must raise taxes as well as cut spending to reduce the budget deficit , or it will risk losing its AAA credit rating . Mr Morrison said that , overall , the budget would "continue to focus on reducing the government spending as a share of the economy".

The labor plan would raise $47 billion over 10 years ,and in February a group of Liberal backbenchers urged adoption of a similar policy to raise $25 billion over 10 years . 

Reference List:

James Massola - Chief political reporter.