The Liberals have launched a fierce attack on Prime Minister Anthony Albanese and Treasurer Jim Chalmers, accusing Labor of becoming a 'freeloader' government that lives off the hard work of Australians while delivering a Budget that makes it harder for young people to get ahead.
Wilson's Speech Targets Budget Fallout
In a speech focused on the fallout from last week's Federal Budget, shadow Treasurer Tim Wilson claimed Labor had triggered an 'economic earthquake' that continues to send shockwaves through households and businesses. 'Last Tuesday night, Australia was hit with an economic earthquake, and its epicentre was Canberra,' he said.
Wilson argued that many Australians initially dismissed warnings about the Budget, only to later realise its impact would hit far wider than expected. 'The government would have you believe this Budget was all necessary for intergenerational fairness,' he said. 'But the reason the aftershocks are still being felt is because this Budget goes beyond bank accounts. It strikes at the pride so many Australians take in their work and at the spirit of the nation itself.'
Impact on Young Australians
He accused Labor of stripping young Australians of the opportunities needed to get ahead. 'This Budget pulled away the one thing young Australians need more than ever, a first foothold on the ladder of opportunity, so they can work towards a better tomorrow,' he said.
Wilson also claimed the Budget had become a rare policy attack spanning every stage of life. 'No Budget has targeted every generation of Australians, from those renting and moving out of home for the first time through to those spending their later years in aged care.'
Business Owners Feel Punished
He said many business owners now felt 'their government is punching them'. Pointing to a wave of criticism on social media, Wilson highlighted memes portraying Anthony Albanese as a 'silent investor' taking a share of business profits. 'You build it from nothing ... survive interest rates, pay wages, rent, stock, super, GST, tax ... and somehow your silent investor Albo still clocks in for 47 per cent without ever stepping foot behind the chair,' he said.
Wilson said Labor had failed to understand the pressures facing entrepreneurs and small businesses. 'The innovators, disruptors, risk takers and builders of this country have worked this Prime Minister out: he's the guy in that group assignment that does none of the work, but still takes the grade,' he said.
Economic Management Under Fire
The speech repeatedly targeted the government's handling of the economy, with Wilson arguing higher debt, inflation and taxes had left Australians worse off. 'The government has become freeloaders off the hard work of Australians,' he said.
He also took direct aim at Treasurer Jim Chalmers. 'The Treasurer is the inflation arsonist cosplaying as the firefighter,' he said. Wilson went on to argue that inflation had become built into Labor's economic approach. 'Inflation is not a bug, it is a design feature of the economy Labor built: a deliberate cycle to fuel the inflation, tax the inflation, spend the inflation,' he said.
Migration and Public Spending
He also claimed Labor was becoming too reliant on migration and public spending to drive economic growth. 'The only way the government can continue to claim growth is by overshooting their migration target,' he said. 'Public spending will outstrip private sector growth. Private investment is barely moving, and new mining investment growth is projected to fall to zero.'
Coalition's Tax Pledge
Wilson said the Coalition would oppose Labor's proposed tax measures and repeal them if elected. 'The Coalition is being explicit: we will oppose the higher taxes the government has put forward, and we will repeal them in government,' he said. He said the Coalition would also move to tackle bracket creep by indexing income tax brackets to inflation. 'Under our changes young Australians will keep what they earn, not have it taxed by stealth,' he said.
AI and the Workforce
Wilson also argued artificial intelligence could reshape the workforce and push more Australians into running their own businesses. 'The disruption of AI raises the prospect of more Australians joining the ranks of the self-starting self-employed and small businesses,' he said. He accused Labor of creating 'a sit-down economy' that was becoming too dependent on bureaucracy and regulation.
'Stand with Small' Campaign
The speech also launched a new 'Stand with Small' campaign aimed at supporting small businesses and self-employed Australians. Under the proposal, the Coalition would consult on a Small Business Act built around four pillars, including a single definition of small business across Commonwealth laws, legal maximum payment terms, stronger consultation requirements and expanded opportunities for government contracts. 'We have put forward a framework. We want the self-starters of the nation to tell us what the details should be, and what should also be included,' he said.
Final Warning on Ambition
Wilson finished with a warning that higher taxes risked hurting ambition and entrepreneurship. 'Australians don't want a government that goes around kicking the lemonade stands of the next generation,' he said. 'Because a country that punishes risk eventually runs out of courage.'
