After almost three years in opposition the Coalition has finally released something akin to "economic policy", more like economic madness, a tax deduction for the bosses long lunch. Costed by Treasury at $1.6 billion, and with the usual business tax rorting this figure could blow out to $10 billion. With many Aussie families struggling these days to put bread on the table, this lobster and champagne policy for their mates in business should go down like the preverbal lead balloon with the public. Certainly fails the pub test, what next, a tax deduction for the bosses family trip to Disneyland!

Hi Paul

The Parliamentary Budget Office puts the cost at $250 million. Looking at the differences in assumptions that underpin the two estimates, the PBO’s look more realistic to me:

https//www.afr.com/politics/federal/treasury-claims-liberals-long-lunch-tax-break-will-cost-billions-20250203-p5l916#:~:text=Treasury%20estimates%20a%20%241.6%20billion,the%20full%20%2420%2C000%20a%20year.

It’s still not a great policy, but it will hardly “smash the budget” as Jim Chalmers says.

Hi Rhian,

What the cost is, is immaterial, whether it's going to cost a lazy $250 million or an extravagant billion or ten, that's not the point. What it does, it shows how out of touch the Coalition is with the Australian public. These guys have political advisers, you would think even Blind Freddy could tell Dutton an co, that sort of thing is not going to go down well with the public at the best of times, and to release it as first cab off the rank would be a disaster, and that's what they did, score an own goal!

A bosses "long lunch" in Australia typically lasts between 2 and 3 hours; it's considered a leisurely extended lunch break where people enjoy a meal with drinks, and ideal chat. What's on the menu, seafood platters and steak dinners are popular, as is fine wine, black label sprits and imported beer as well. These taxpayer funder long lunches will mostly be taken in a social setting such as a restaurant or club, going well beyond the standard 30-60 minute lunch break most Australians take at work, sitting down to a self funded Vegemite sandwich. The last word from the Boss to his workers; “Tote that barge! Lift that bale! I'm off to lunch with my good friend Dud Dutton, don't call me a the Yacht Club, I'll be busy discussing economic stimulus (for4 me) with Dud, AND! remember your lunch is 30 minutes on the dot, don't be late back to work!" Gee there's a $500 tax deduction to start with, and think of the productive!