Federal Election 2016: Labor says The Schoolkids Bonus won't be coming back
Labor had previously criticised the Coalition for scrapping the bonus, but now Bill Shorten says he won't be restoring it should he become prime minister.
"We do not believe, looking at the latest set of books that the Government has just revealed last week, that we're in a position to restore the changes they've made," he said.
The payment was introduced by the Gillard government and provides families with $430 for each child in primary school and $856 for each child in secondary school.
The Coalition estimates that restoring it would cost the budget $4.5 billion over four years.
Labor also confirmed it won't be reversing changes to the pension which will come into force next year and save the budget $2.4 billion over four years.
The changes will reduce payments to pensioners with substantial assets.
The Coalition says Labor has done a backflip since voting against both measures in Parliament.
Source: ABC News