Fiscal Reform Policy

Proposed by Socialist Demokrat · Passed 2 Jun 2018

✅ Passed

Rationale

This proposal restructures the tax system progressively to relieve low-and-middle-income earners, increases education funding, and cuts secondary spending to eliminate the deficit and secure a $34.5bn annual budget surplus.

Figures show the previous budget where they changed the new value.

Annual Taxes

Earning band	Tax rate
Personal income tax: Low earners	25% 0%
Personal income tax: Medium earners	25% 19%
Personal income tax: High earners	25% 34%
Personal income tax: Elite earners	25% 45%

Annual Spending

Category	$ per capita	Peers	% of budget	Amount
Social Welfare	$1,179	$1,045	8.0% 7.8%	$84.9bn
Retirement	$4,129	$1,890	28.0% 27.3%	$297.3bn
Healthcare	$2,950	$2,397	20.0% 19.5%	$212.4bn
Education	$1,769 $2,500	$1,652	12.0% 16.5%	$127.4bn $180.0bn
Housing	$590	$603	4.0% 3.9%	$42.5bn
Justice, Police & Internal Security	$738	$682	5.0% 4.9%	$53.1bn
Defence	$1,032 $833	$827	7.0% 5.5%	$74.3bn $60.0bn
Environment & Climate	$294	$241	2.0% 1.9%	$21.2bn
Business Support	$443	$592	3.0% 2.9%	$31.9bn
Arts, Culture & Media	$294	$258	2.0% 1.9%	$21.2bn
Foreign Aid	$294 $139	$70	2.0% 0.9%	$21.2bn $10.0bn
Roads & Highways	$369	$385	2.5% 2.4%	$26.5bn
Public Transport & Rail	$295	$305	2.0% 1.9%	$21.2bn
Energy Infrastructure	$221	$232	1.5%	$15.9bn
Ports & Airports	$147	$157	1.0%	$10.6bn
Total			100.0%	$1,061.7bn $1,088.8bn

Vote tally

House Of Commons

Passed

216Yes 0No 24Not voted 240 seats

For: 216 / 240 filled seats (90.0%) — needs 50.0%

Against: 0 · Abstained: 0 · Not voted: 24

Party	Seats	Vote	Reason
Classical Liberty	25	Not voted
Iron Pillars	21	Not voted
Labour	110	Not voted
National Conservative	0	Not voted
Nationalist Future	26	Not voted
Populist	0	Not voted
Socialist Demokrat Proposer	53	Yes	No reason given
Technocratic Union	58	Not voted
The Left Socialist Movement	163	Yes	No reason given

House Of Representatives

Passed

46Yes 0No 2Not voted 48 seats

For: 46 / 48 filled seats (95.8%) — needs 50.0%

Against: 0 · Abstained: 0 · Not voted: 2

Party	Seats	Vote	Reason
Classical Liberty	0	Not voted
Iron Pillars	10	Not voted
Labour	5	Not voted
National Conservative	0	Not voted
Nationalist Future	0	Not voted
Populist	0	Not voted
Socialist Demokrat Proposer	29	Yes	No reason given
Technocratic Union	17	Not voted
The Left Socialist Movement	17	Yes	No reason given

Voting record

Every vote must state a public reason. Most recent first.

No votes cast yet.

Current budget Budget history