Liberal deputy Sussan Ley is seeing red as a political battle brews over the federal government’s planned changes to franking credits. 

Labor is seeking to tighten rules around some share buy-backs to save the budget $550 million over the coming years.

While the government says it’s about returning integrity to the tax system, the Coalition argues Labor is breaking another election promise.

“Power bills, cheaper mortgages, lower inflation, every promise broken and the huge one, though, changes to super, promise broken,” Liberal deputy Sussan Ley told Ray Hadley.

“And again this morning, ‘franking credits won’t be touched’, that’s another promise broken. This is a shamble for the government, absolutely.”

Press PLAY below to hear the interview in full 

Image: Tracey Nearmy/Getty Images