MEDIA RELEASE
27 October 2026
Sunshine Coast families and small businesses struggling with soaring bills and rising taxes stand to benefit from the Coalition’s new $31 billion plan to rein in government spending and put more money back into Australians’ pockets.
With Australians continuing to face cost-of-living pressures, the Liberals and Nationals have unveiled a major savings package targeting Labor’s wasteful programs, corporate welfare and expanding bureaucracy.
Federal Member for Fisher Andrew Wallace MP said it was time for Canberra to tighten its belt instead of continually asking hardworking Australians to tighten theirs.
“Families on the Sunshine Coast are making tough decisions every single day about what they can and cannot afford, yet Anthony Albanese and Jim Chalmers continue spending taxpayer money like there’s no tomorrow,” Mr Wallace said.
“Labor has a spending problem, and Australians are being forced to pick up the bill.
“We’ve identified $31 billion in savings because we believe taxpayers deserve a government that respects every dollar they earn.”
The savings package, covering 2028-29 to 2031-32, will help fund the Coalition’s $20 billion Tax Back Guarantee while improving the Federal Budget’s bottom line.
The Coalition’s savings package includes:
- $9.4 billion from ending Labor’s climate bureaucracy, including scrapping electric vehicle tax concessions and the home batteries program.
- $7.3 billion from ending corporate welfare, including green hydrogen incentives, critical minerals tax credits and the National Reconstruction Fund.
- $4.7 billion from scrapping Labor’s housing bureaucracy, including the Housing Australia Future Fund, Help to Buy and other housing programs.
- $2 billion from changes to welfare and NDIS eligibility aimed at putting Australian citizens first.
- $7.9 billion in Budget improvements from cracking down on the illicit tobacco market.
Mr Wallace said the Coalition’s approach was about putting money back into Australians’ pockets rather than allowing Canberra to continue spending beyond its means.
“Labor has driven government spending to its highest level outside the pandemic in 40 years, and Australians are paying the price through higher inflation, higher interest rates and higher taxes,” Mr Wallace said.
“You cannot keep throwing billions of dollars at government programs that aren’t delivering results, while expecting families and small businesses to tighten their belts.
“Here on the Sunshine Coast, I’ve spoken with small business owners facing extraordinary electricity and fuel bills. They don’t need more government bureaucracy. They need lower taxes, cheaper power and a government that understands the value of a dollar.”
Under the Coalition’s Tax Back Guarantee, a typical worker would receive an additional $250 in income tax relief in the first year, rising to $500 in the second, $750 in the third and $1,000 in the fourth.
Over ten years, the Coalition estimates a typical taxpayer would pay around $14,000 less in income tax compared with Labor’s plan.
Mr Wallace said the Coalition was demonstrating how tax relief could be delivered alongside responsible economic management.
“Anyone can promise tax cuts, but the real test is whether you can pay for them,” Mr Wallace said.
“We’ve put $31 billion in savings on the table, and we’re showing Australians where the money will come from.
“Instead of wasting billions on bureaucracy and corporate handouts, we want Australians to keep more of what they earn.
“Every dollar the Government spends comes from the pockets of hardworking taxpayers. It’s not the Government’s money, it’s yours, and it should be treated with respect.
“Our plan is simple: lower taxes, cheaper power, less migration and more homes, fixing the economy and protecting our way of life.”
[ENDS]
Media Contact: Brendan West – 0402 556 646 – Brendan.west@aph.gov.au