Labor stands firm as retirees vent anger

LABOR says it will not back down on its policy to end the payment of franking credits even though it is not popular with many retirees.

More than 300 angry retirees packed two hearings in Sydney yesterday to protest against the federal Opposition’s plans.

After the vocal meeting, deputy chair and Labor MP Matt Thistlethwaite said: “Obviously people disagree with our policy … we believe in that policy because it is the right thing to do.”

Committee chair Tim Wilson has vowed to continue in the role despite accusations that he colluded with investment manager Geoff Wilson, a distant relative, to undermine the Opposition policy and had used the hearings to recruit for the Liberal Party.

More than 800,000 pensioners across Australia are expected to lose thousands of dollars from their annual in- come if the Labor tax grab goes ahead.

“Labor is undermining what we were brought up to believe, those great principles that my parents instilled in me, to be self-reliant, independent and think of future generations,” said retired teacher Anne Felici, 72.

She was widowed at 46 and worked nights to bring up her two teenage sons in a former war service home. Like many of those present she was proud to be funding herself and not be a burden on the Australian taxpayer.

She was among retirees at the first of two parliamentary hearings in Chatswood and Bondi yesterday looking into the effects of Labor’s proposal.

“The tax refund from the franked dividends is important to help maintain independence and quality of life. Labor wants to deprive me of this already taxed money retrospectively,” she said.

Retirees became even more heated when former Greens councillor Matthew Benson tried to hijack the event.

He was ejected by angry retirees after shouting the hearing was “a scam using public funds to promote a Liberal agenda”.

A proud Pamela Alvarez did not ask for help when her husband died leaving her with two young children — and she does not want to ask for help now.

“I will feel violated if I have to give up my occasional helper on who I depend. This will result in me seeking government services,” the 81-year-old self-funded retiree said. “It will cause me financial, physical and emotional stress.”

Labor is undermining what we were brought up to believe

— ANNE FELICI