Australia. Labor to exclude all pensioners from $59 billion dividends policy
Labor has buckled to pressure in the political row over its $59 billion revenue grab on dividend payments, staging a sudden retreat to exempt all Australians on the age pension from a policy it unveiled just two weeks ago.
Bill Shorten will vow to exclude 306,000 pensioners from his original plan in a bid to calm the storm over the impact on retirees who stand to lose tax refunds worth thousands of dollars a year.
The dramatic backdown comes after sharp criticism of the Opposition Leader for announcing the original policy without allowing for the harm to older Australians on low incomes, which has raised doubts about his political judgement.
Read More: The Sidney Morning Herald
