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Key figures from Labor's election costings

Labor has released the costs of its election policies more than a week out from the federal election.

Jim Chalmers has also thrown his  hat into the ring.
Jim Chalmers has also thrown his hat into the ring. Source: AAP

KEY FIGURES FROM LABOR'S ELECTION COSTINGS

NEW REVENUE

* $58 billion over 10 years from dividend imputation reform

* $32.5 billion raised from ending negative gearing on existing properties

* $29.8 billion from changing superannuation concessions

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* $26.9 billion from changes to family trusts

* $6.9 billion from cracking down on multinational tax avoidance

* $6.3 billion from the budget repair levy on high income earners

* Labor will also reverse the coalition's $285 billion long term income tax cuts, but has built in an assumption of future tax cuts at some point

NEW SPENDING

* $59 billion on bigger income tax cuts than the government is promising

* $16.2 billion for extra school funding

* $15.9 billion to make child care cheaper for more than one million families

* $15.2 billion in tax concessions to encourage businesses to take on older and younger workers, and invest in equipment

* $10 billion to better fund TAFEs and universities

* $9.9 billion top up childcare workers' wages

* $9.3 billion to give pensioners free dental work

* $9.2 billion to build 250,000 new affordable rental homes

* $8.6 billion to make preschool available to three-year-olds

* $4.4 billion so Medicare can better cover cancer costs

INCREASES

* $1.18 billion increase for overseas aid over four years

* $530 million to "restore fairness" to the skilled visa system

* $4.28 billion on infrastructure in the next four years

* $200 million on a plan to get more batteries into homes.

(SOURCE: Labor costings document)


2 min read

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Source: AAP


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