Labor points out $100m black hole in ‘omnibus’ savings bill – sending Morrison back to the Treasury to recalculate

Malcolm Turnbull’s effort to seize the economic agenda on the first business day of the new parliament was undermined late on Wednesday when the government was forced to correct an error in its “omnibus” savings bill.

The prime minister navigated early procedural turbulence on Wednesday, seeing off motions launched by Labor relating to a royal commission into the banking sector, and a separate foray on negative gearing.

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