Opposition Leader Angus Taylor has declared Australia is facing an “economic crisis” caused by the Albanese Government, using a major policy address to outline the Coalition’s vision of lower taxes, lower immigration, reduced regulation and cheaper energy.
Speaking at the Sydney Institute on Thursday, Taylor argued that Australia had suffered the sharpest decline in living standards in the developed world and accused the Labor Government of expanding the size of government at the expense of productivity and economic growth.
“Australia is in an economic crisis,” Taylor said.
“What truly distinguishes this crisis is that, rather than government acting to protect Australians from harm, this government is the primary cause of harm.”
He claimed only the Coalition had “the strong plan and direction, strong team, and strong leadership to save Australia”.
Taylor repeatedly criticised what he described as Labor’s “big government” agenda, arguing it had fuelled inflation, weakened productivity and reduced living standards.
He accused Prime Minister Anthony Albanese and Treasurer Jim Chalmers of refusing to take responsibility for Australia’s economic performance after four years in office.
“Labor has put our economy into a death loop,” Taylor said, describing a cycle in which increased government spending drives inflation, leading to higher taxes, greater debt and slower economic growth.
The Opposition Leader claimed productivity had fallen almost five per cent since Labor took office and said Australia’s economic performance had lagged behind comparable countries such as New Zealand.
Taylor outlined a series of policy priorities the Coalition would take to the next election, centred on what he described as restoring “self-determination and enterprise”.
These include introducing a “Tax Back Guarantee” that would index personal income tax thresholds to inflation, preventing bracket creep and delivering progressively larger tax reductions over time.
He also pledged to establish a Future Generations Fund to save 80 per cent of future commodity revenue windfalls for debt reduction and infrastructure investment.
For businesses, Taylor promised a $50,000 instant asset write-off and the repeal of what he called Labor’s “toxic taxes” on investment and housing.
On housing and migration, Taylor said the Coalition would cap immigration below the number of homes being built and invest $5 billion in housing infrastructure while dismantling regulations it argues are slowing construction.
“We recognise the simple, inescapable fact that you can’t bring people into this country if there’s nowhere for them to live.”
Taylor also pledged to abolish Labor’s net zero policy framework, remove carbon-related taxes on industry, vehicles and electricity, and pursue an energy mix including coal, gas, oil, nuclear, hydro, batteries and renewables.
The Opposition Leader also launched a direct attack on One Nation, warning voters against supporting the minor party despite growing public frustration with the major parties.
He described One Nation as lacking coherent policies, warned its spending commitments could cost taxpayers up to $1 trillion over a decade, and argued they would drive inflation and increase interest rates. “Australia needs change. But not destructive change,” Taylor said.
“We need constructive change.”
The address marks Taylor’s most comprehensive economic statement since becoming Opposition Leader and signals the Coalition’s campaign focus ahead of the next federal election, with cost-of-living pressures, productivity, taxation, housing and migration expected to dominate the political debate.
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