Local Federal MPs, Sharon Bird and Stephen Jones, will today address the NUS rally at the University of Wollongong, to protest the Liberal’s plans to jack up student fees, cut University funding by $3.8 billion and reduce the income repayment threshold for HELP (formerly HECS) debts students repay debt at $42,000 from $55,000.
Last week on Budget night, the Treasurer announced that someone on a million dollars will pay $16,400 less tax this year, while someone earning $65,000 will pay $325 more tax in two years’ time.
The Liberals not only decided to continue with their $50 billion tax handout for big business – this amount was subsequently increased to $65 billion.
Sharon Bird said it was unfair for big business and millionaires to receive massive tax cuts while students missed out.
“Today’s rally will highlight just how unfair this budget is for students. Not only will they have higher fees, and therefore a bigger debt to repay, the triple whammy is the income repayment level dropping to just $42,000 – this will be a final kick in the guts for students as they try and start their careers, buy a house or start a family.
Stephen Jones said students shouldn’t have to subsidise a big business handout.
“When you hand big business a $65 billion tax cut, you’ve got less money to spend on things that matter to Australians. Student’s shouldn’t be crippled with debt and $100,000 degrees. It’s unfair, and shows how out of touch the Malcolm Turnbull and the Liberals are with what students need.”