Costello calls our tax policy “a morbid joke” 125

Let's Talk


View Profile

Yes that’s right, you heard correctly: Peter Costello has turned on his own team, rounding an ugly one last night that was firmly squared at Joe Hockey’s tax policy. He has described the Abbott Government’s taxation approach as a “morbid joke” and with the Federal Government just weeks from the next Budget after the failure of their last budget, it is a raw wound to have opened by your own team. Do you think his call is fair?

AAP reports that the former Liberal treasurer said, “ever since the government released his tax discussion paper calling for a “lower, simpler, fairer” system there has been nothing but suggestions for taxes that are higher, more complicated and less economic”.

“The government needs to restart the conversation about getting taxes down, not up… Lower, simpler, fairer is looking like a morbid joke,” Mr Costello said, pointing to proposals for a bank deposit tax and larger taxes for multinationals operating in Australia.

“The tax system is there to raise government revenue at the lowest cost in the most efficient way doing the least damage to the economy,” he said. It is no surprise that Joe Hockey was not impressed at all, speaking to Sky News from overseas, and blames the cutting of carbon taxes and mining taxes for the government’s ails, along with the general loss of tax revenue due to the shrinkage of large revenue areas of the economy.

“Everyone is entitled to give free advice and, frankly, that’s what it’s worth – it’s free advice,” said Joe Hockey, cynically aiming his words at Mr Costello.

And so we ask today… Do you think Mr Costello has a right to reflect on the Government’s perceived high tax levels, and to speak out against his own party when they are approaching such a critical budget?

Share your thoughts this morning on this big talkback issue.

Rebecca Wilson

Rebecca Wilson is the founder and publisher of Starts at Sixty. The daughter of two baby boomers, she has built the online community for over 60s by listening carefully to the issues and seeking out answers, insights and information for over 60s throughout Australia. Rebecca is an experienced marketer, a trained journalist and has a degree in politics. A mother of 3, she passionately facilitates and leads our over 60s community, bringing the community opinions, needs and interests to the fore and making Starts at Sixty a fun place to be.

  1. Sour grapes that is all I can say, he had heaps more money than Joe to balance the books. I just don’t like him

  2. Costello was a better treasurer than Hockey will ever be, Costello’s destiny was always to be the bridesmaid and never the bride, he was to gutless to challenge Howard and left Parliament way to early or he would probably be PM now instead of Abbott

    1 REPLY
    • I never liked Costello, but I agree totally, he was a better treasurer than Hockey is, or ever could be. I also agree with Costello’s thoughts on Hockey.

      Basically, I think we all know Hockey isn’t the man for the job, anymore than Abbott is the man for PM.

      1 REPLY
  3. quite a little list of waste this Government is getting

    8 REPLY
    • And folks that all adds up to less the what the A,L.P WASTED ON PENSIONS FOR BOAT PEOPLE be real.

    • don’t be so silly Glynn Hill..and who but a Liberal voter is going to believe that..check those figures again.. they are billions ..not millions

    • Glynn Hill I don’t think refugees get the pension and they certainly would not get that amount of money..the $61 million wasted on royal commissions alone ( they told us nothing we did not already know the only royal commission that has done any good is the one the ALP started on child abuse ) would pay for Australian pensioners for years !!

    • BOAT PEOPLE as you call them do not get a pension. They get put in filthy camps with 3rd world living and sanitary conditions.
      When they are approved as refugees they are entitled to a pension to help them get started. But the vast majority find work fairly quickly. They are the ones who take on the cleaning jobs and the rubbish collectors or pushing trolleys at supermarkets. Jobs that I can bet people like Glynn Hill would turn his nose up at.

  4. Costello wasted the mining boom by giving tax cuts to the rich and powerful. Now Hockey is in the position of having to squeeze the poor harder or try and get some money back from the rich. This statement though, is more about egos. Peter wants people to think he was a better treasurer than Joe, but they have both damaged Australia.

    10 REPLY
    • No Geoff,Joe is trying to get this Country out of the debt Labor placed it in.Probably no person could achieve this!

    • Peter Costello is The only one that could. he & John Howard were a real team, not many realised it until they were gone. As for Joe Hockey, he could not organise a chook fight in Gatton, FULL STOP

    • Howard & Costello had a much better Senate, one interested in Australia , not little ideas for their electorate.

    • Dotti, Nola, Dawn… Costello sold off $72 billion of our assets, if he hadn’t sold every asset we had, he would have left a $39 billion deficit to Labor. He ignored infrastructure, gave baby bonus and middle class welfare that is causing trouble to the budgets today.

    • Different times and different circumstances so they are probably both good treasurers in their own ways. Peter Costello could have done more if he hadn’t resigned ir white anted Howard towards the end of their government. We could say the same of the Rudd/Gillard/Rudd governments. It’s a shame that over inflated egos get in the way. Anyway we have to support the current LNP government to get us through this time.

  5. A different economic climate. I think Hockey isn’t doing a very good job but Costello operated in an economic climate where money just flowed into their coffers. Some of the middle class welfare payments were put in place in that environment and have greatly depleted the coffers of the governments that followed. In hindsight it is easy to say the surplus money should have gone to infrastructure or into a future fund.

  6. Costello was then and this is now. While I think he was a wonderful treasurer, circumstances have changed and what worked then won’t work now. Besides, he didn’t have a lot of posers in the senate to contend with.

    1 REPLY
    • Costello sold off $72 billion of our assets. He ignored infrastructure, gave baby bonus and middle class welfare that is causing trouble today.

  7. As a former treasurer who got the country back on track, he has every right to speak out!

    4 REPLY
    • Really he was the treasurer in the good times gave a lot of money away ,sold off Australias assests encouraged women to have more children giving them five thousand dollars . Did not see much infrastructure . Things need to put in to perspective .

      1 REPLY
    • Agree Vicki Orr, that money could have been well used on infrastructure, that will now cost billions to do. RUDD just gave it all away and the Chinese probably benefitted the most and rest going in the poker machines or white goods now in the tip.

    • By with holdin $billions from Health & creating a massive Doctor shortage. Yeah he was brilliant in that regard!

    • Yes Costello was great, he sold $72 billion of our assets. He ignored infrastructure, gave baby bonus and middle class welfare that is causing budget troubles today.

  8. If PETER Costello had cared about His party instead of playing sulks he should have become Leader. He didn’t so it’s just plain ole sour grapes

Leave a Reply

Your email address will not be published. Required fields are marked *