The Sydney Morning Herald | Malcolm Turnbull defends bank levy, Medicare tax hikes in his second budget The Sydney Morning Herald Prime Minister Malcolm Turnbull will launch a strident defence of the tax rises in his government's second budget, arguing the alternative was unsustainable debt and deficit. Play Video. Replay Video. Play Video Don't Play ... PoliticsNow: Rolling news, analysis, video from Canberra The new reality our leaders can't change Labor 49.5pc tax rate will kill aspiration, prosperity: Malcolm Turnbull |