Budget delivers tax relief for battling CEOs

“Many working families today are having trouble surviving on only one bloated income, worrying about putting their kids through elite private schools while at the same time asking themselves whether they can afford that fourth investment property.” Howard said. “Now they can.”

The tenth budget of the Howard Government has reaffirmed the Coalition’s commitment to CEOs everywhere who are doing it tough. “Many working families today are having trouble surviving on only one bloated income, worrying about putting their kids through elite private schools while at the same time asking themselves whether they can afford that fourth investment property.” Howard said. “Now they can.”

The Prime Minister says that the budget will provide much-needed assistance to the “suffering minority” who are caught in the top tax bracket. “Finally we’re providing tax relief for high income earners who are too stupid to minimise their tax with family trusts and elaborate corporate structures,” he said.

Treasurer Peter Costello has denied that the plan is just a cynical attempt to reward the voters who returned the Coalition to office last year. “Nothing could be further from the truth,” he said. “It’s a cynical attempt to move my popularity into double digits.”

Business and welfare groups responded to the Budget by changing the dates on last year’s responses and re-issuing as a press release.

In his budget reply speech, Kim Beazley committed the ALP to delaying the tax cuts when they reach the Senate, despite their popularity. “Of course we’re going to oppose them,” he said. “If we knew how to pick a winner in the finance portfolio, do you think our Shadow Treasurer would be Wayne Swan?”

Beazley will offer futile resistance to the tax cuts for six weeks until the Senate changeover, at which point he will change his focus to offering futile resistance at the next election.