Treasurer Josh Frydenberg has launched a pre-election assault on Labor’s plan to halve the capital gains tax discount.

The Treasurer is warning hundreds of thousands of Australians will be taxed at the “highest rates in the world” if Labor’s plan goes ahead.

He tells Luke Grant the tax plan is “unprecedented in scale and scope”.

“It’s a huge socialist experiment that they’ve got planned for Australia.

“Under Labor, you’ll see more than one million Australians pay the top marginal rate of tax, which they’re going to increase… which will be very significant.”

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