Labor talks tax cuts

Business loves it when Labor talks tax incentives. And shadow treasurer Wayne Swan did not disappoint yesterday. While there is still no tax policy, Swan told Sky News: “We need to be putting incentive into the tax system all the way up the income scale.

“That’s very important in terms of our international competitiveness. It’s very important to encourage people to upskill, to gain additional skills. They are all objectives we will be following.”

He also says that tax credits, where cash is returned to workers at the end of the financial year, is one option Labor is considering to ensure tax cuts are provided to low income earners.

Swan confirmed that Labor would release details of the policy during the election campaign.