Matt Burnell (Spence, Australian Labor Party) Share this | Link to this | Hansard source

In little more than 33 days, when the clock strikes midnight, millions of Australians will begin to feel the benefits of the Albanese Labor government's tax plan. Under Labor, Australians are earning more and keeping more of what they earn. All 13.6 million Australians will be paying less tax on every dollar they earn. Seventy-four thousand of those in my electorate of Spence will receive a tax cut on average of around $1,200. For many in Spence, that is $1,200 more than they would have received under those opposite. One hundred per cent of taxpayers in Spence will receive a tax cut this financial year because of our government.

Another one of life's great equalisers is education, which is why the Albanese Labor government's third budget made education a priority. It was a budget that cut $3 billion in student HELP debt, backdating this measure to the last financial year, meaning indexing will fall from 7.1 per cent to 3.2 per cent. This measure is one of many in this budget that help to ease cost-of-living pressures felt by not just the 19,000 people in Spence, who, on average, will receive a $970 credit to their HELP loan debts. This measure also makes the choice easier for the many who might be thinking of undertaking further study or vocational training, helping Australians to learn more and keep more of what they earn.