Townsville battery plant moving forward after council meetings, page-65

LNP candidate for Herbert Phillip Thomson fired back at Labor’s pre-election Budget reply, saying it will “damage the economy”.Mr Thompson attacked Labor’s plan to change negative gearing.

“Labor’s housing tax will reduce property values and push up rent prices and damage the economy,” he said.“Over 9500 Herbert residents invest in rental houses or units using negative gearing,” he said.Mr Shorten said those currently negative gearing to build a new house still could.

Mr Thompson also slammed Labor’s plan to axe tax refunds for franking credits, which would affect “over 4000” Herbert residents.“These changes to the goal posts, it punishes those who worked hard and saved for their retirement,” he said.“It will increase reliance on the aged pension. We’ve got people who’ve worked hard their whole life so they won’t be a burden.”

Herbert MP Cathy O’Toole said if Labor was elected it would deliver jobs, apprentices, funding for our schools and hospitals and a bigger, better, fairer tax system for the lowest income earners.The only mention of Townsville during Mr Shorten’s Budget reply was for the additional funding for ABC regional centres for communications during natural disasters.

Townsville Mayor Jenny Hill was, however, encouraged by Mr Shorten’s support for building lithium-ion batteries in his plan to have 50 per cent of new car sales electric by 2030.

It comes as Imperium3 works on its development application for its $2 billion battery plant in Woodstock.“The battery plant will create thousands of direct and indirect jobs and charge our city’s economy for decades to come,” Cr Hill said.Townsville Enterprise CEO Patricia O’Callaghan described Labor’s reply as the “Opposition’s unofficial launch of an election campaign”.