Conservative Party founder and leader in the Senate, Cory Bernardi, has been identified as one of the likely crossbench senators critical to blocking Labor's tax attack on self-funded retirees after the federal election.
The Australian Financial Review reports that Senator Bernardi - with 3 years left to serve on his senate term after the election - is one of the few senators guaranteed to remain in the Senate after the election who can stand in the way of Labor's tax plans.
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If Australian voters elect more Conservative Party senators alongside of him, Labor's tax attacks can certainly be thwarted.
A survey of the entire Senate crossbench shows that Labor, if it wins the election, has next to no hope of passing either the negative gearing or franking credit changes before June 30, 2019, the date the term of the existing Senate expires.
If Labor wants to pass the measures after July 1, it and the Greens will most likely need to win joint control of the Senate at the election because the handful of crossbenchers who are serving six-year terms and who will still be there after July 1, are opposed to both tax measures.
A Labor-Greens controlled Senate is an outcome the Australian Conservatives have been loudly proclaiming can not be afforded after the federal election.
Senator Bernardi attacked the Labor policy as soon as it was advanced by the Opposition, saying it demonstrated that Labor simply do not understand economics:
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