After a speech yesterday in which she said “all options” were back on the table, Prime Minister Julia Gillard has sparked speculation over how she will fund a $12 billion hit to budget.
In the address at a Per Capita lunch she said rather than chasing revenue, and “cutting to the bone,” the May 14 budget would be a long-term economic plan that would require funding.
“We believe that the whole of society should carry a fair share of the burden of funding Government, that the whole of society shares the burden of these saving decisions,” the Prime Minister said.
“Everyone benefits – so everyone contributes.”
Here’s some of the ideas being put forward this morning:
- An increase in the Medicare levy
- An additional levy to fund the National Disability Insurance Scheme
- Increased capital gains tax on homes
- Changes to private health insurance rebates
There’s good cause for guesswork. In her speech the Prime Minister said: “I have expressly determined we need to have every reasonable option on the table to meet the needs of the times, even options previously taken off the table.”
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