Labor scraps franking credits policy for next election

Labor will not take its unpopular franking credits policy to the next election, Opposition Leader Anthony Albanese has revealed. The plan to abolish cash refunds for individuals and super funds was expected to save the budget about $5 billion per year, but in an exclusive interview with Sky News Mr Albanese confirmed the original policy is being dumped after major backlash from older Australians. The government has accused Labor of simply putting the policy on “life support”. Finance Minister Mathias Cormann says Mr Albanese should decisively rule-out the plan. Via news.com.au — Australia’s #1 news site https://www.news.com.au