As of August 21, ACT Party policies will save taxpayers $5.35b over the next three years. This is the most taxpayer-friendly of any party and is equivalent to $3,103 of savings per household.
Cutting corporate welfare will save $1.125b per annum.
ACT’s superannuation plan is to incrementally increase the retirement age by two months a year, starting in 2020 until it reaches 67. Using population data, as well as projected future costs of superannuation, this is estimated to save taxpayers $161 million in 2020 (the only year the plan will have an effect on the next parliamentary term).
ACT has also committed to reversing the Budget 2017 announcements to increase Working for Families and the Accommodation Supplement. This will save $2.3b in the next three years.
ACT’s only proposed increase in spending to date, has been a proposed distribution of future tobacco tax revenue increases to dairy owners. This is expected to be worth about $171m per annum.