Labor to find $2b in budget savings

Labor is planning to find more than $2 billion worth of savings and new revenue in the budget over the next four years, beyond its major tax reforms.

Labor is planning to find $2 billion worth of savings and new revenue over the next four years beyond its major tax reforms if the party wins the May 18 election.

The opposition's election policy costings include redirecting hundreds of millions of dollars away from programs Labor doesn't support.

Abolishing the Climate Solutions Fund will save $448 million over the next four years, while redirecting money away from the industry growth fund and entrepreneurs program will save $309 million.

Labor will also abolish the Australian Building and Construction Commission and the Registered Organisations Commission - both organisations the coalition set up to target unions - to save $152 million.

A further $115 million will be saved removing subsidies for "junk" policies in private health care.

Changes to visas will bring in another $570 million, taking the total to $2.095 billion over the next four years.


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Source: AAP



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