Government abandons proposed tax and superannuation measures

Updated

The Government will abandon a number of tax changes announced when Labor was in office, blowing out the budget by $3 billion over the next four years.

Last week, Treasurer Joe Hockey announced the Government would scrap seven of 92 tax and superannuation policies proposed by the previous government.

The Coalition now says it will abandon a further 48 of those measures.

Assistant Treasurer Arthur Sinodinos says Labor is responsible for the $3 billion hit to the budget.

"You've got to be able to balance what you do with the budget with the impact those measures are having on either compliance costs, collection costs or economic impact in the community," he said.

Mr Sinodinis also insists that next week's budget update will outline further savings.

"You'll be able to see next week in the mid-year economic and fiscal outlook how we've sought to offset other measures that are included in this package and, more broadly, where we stand in terms of the budget bottom line," he said.

Topics: government-and-politics, budget, tax, australia

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