Gov't won't be able to afford tax plan – political commentator
Political commentator Kevin O’Brien Chang says he does not believe the Government will increase the income tax threshold to $1.5 million next year.
The government says it will move the threshold to $1 million in July and then to $1.5 million next April.
It is costing more than $12 billion to finance the first phase of the plan.
Yesterday, opposition spokesman on finance, Dr Peter Phillips charged that the Government would have to increase taxes to finance the next phase.
O’Brien Chang says he is in agreement with Phillips that the government will not be able to afford the plan as promised.
Meanwhile, Obrien Chang says the labelling of the government’s Budget as a 'sham' by Phillips was expected.
While making his contribution the Budget debate yesterday, Phillips said there were serious flaws in the Budget and he questioned whether the Budget was actually compiled by competent officials in the finance ministry.
However, O’Brien Chang says the response of Phillips is a typical opposition response.