Opening borders secures recovery: Morrison

Scott Morrison believes that reopening Australia’s borders to international travelers will help secure the country’s economic recovery.

The Prime Minister announced on Monday that from December 1, fully vaccinated skilled workers, international students and holidaymakers will be able to travel to Australia.

From the same date, Australia will also once again welcome fully vaccinated citizens of Japan and the Republic of Korea, joining Singaporean travelers who were allowed entry earlier this month.

“The steps we are taking today are aimed at securing our economic recovery,” Morrison told reporters in Canberra.

Business Council CEO Jennifer Westacott agreed.

“It will be a critical relief for businesses that struggle to find workers just to keep their doors open and for those that need highly specialized skills to unlock big projects,” Ms. Westacott said in a statement.

Meanwhile, Treasurer Josh Frydenberg said small businesses were a major beneficiary of the Morrison government’s tax cut regime, receiving around $ 5 billion in tax relief this year and next. .

Treasury analysis of Australian Taxation Office data shows that the relief is boosting job creation in the economy, with small and medium-sized businesses creating some 600,000 jobs between April last year and September this year. year.

“Not only are we lowering taxes, but we are creating more jobs,” Frydenberg told Sky News on Monday.

Yet some of the benefits of lower taxes for businesses and individuals are being swallowed up by rising fuel costs.

As global oil prices retreat from seven-year highs reached in October, oil prices remain high à la Bowser.

The Australian Institute of Petroleum said the national average price of unleaded at the pump rose 1.7 cents per liter last week to 166.2 cents per liter, barely a peak reached in October.

“Filling the car with gasoline is one of the most important weekly purchases for consumers,” said Ryan Felsman, chief economist at Commonwealth Securities.

Assuming the purchase of 35 liters of gasoline per week, the monthly household gasoline bill is around $ 232 per month, just below the record high of $ 237 at the end of October.

One pending tax benefit is whether the government will keep the low and middle income tax compensation, which offers a tax cut of up to $ 1,080 for individuals but is due to expire at the end of fiscal 2021. / 22.

“We will be looking at all of our options in terms of broader tax reform, but what we have said is that we are committed to lowering taxes and that is our record,” said the treasurer.

“The leopard is not moving – Labor is committed to raising taxes, we are making taxes lower.”

However, Labor insists it will not bring the same tax package in the next election as it did in the last.

“We are focused on multinational tax evasion,” Shadow Deputy Treasurer Stephen Jones told reporters in Canberra.

“Most Australians would agree that if we give a foreign company the right to come here and make a lot of money, whether it’s mining or whatever, it should pay its fair share.”

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