Labor attacks Coalition's abolition of deficit levy as a tax cut for millionaires

Labor says Turnbull government should not have frozen indexation of family tax benefits to pay for childcare package

Labor is calling on the Turnbull government to extend the temporary budget deficit levy, saying if it is removed it will give millionaires a $16,400 tax cut when the deficit is still $37bn.

Jim Chalmers, the shadow finance minister, has criticised the government's decision last week to freeze the indexation of family tax benefits for two years to help pay for its new childcare package.