As a cyclone barrels towards Australia’s east coast, One Nation has announced it will exempt insurance premiums from the GST as part of its plan to put more money in Australians’ pockets.

Party leader Senator Pauline Hanson said that with insurance premiums rising rapidly in areas affected by escalating crime and natural disasters, there was a considerable risk many Australian households and businesses would make the hard choice to stop paying for it.

“I think that’s a situation we should try to avoid,” Senator Hanson said. “One of the more perverse outcomes from escalating crime is that the Federal government receives more revenue on the back of rising insurance premiums.

“Crime should not pay; not the criminals who commit crime, and not the government either.

“One Nation’s policy is to exempt general insurance from GST, saving Australians up to $3 billion a year. This is part of our overall plan to put $40 billion in Australians’ pockets, slash $90 billion in government waste, pay down Federal debt, and invest in Australia’s future.

“If we are in a position to implement this policy after the election, it is hoped this exemption will encourage more Australian households and businesses to maintain their insurance policies and encourage states and territories to do more about escalating crime.

“In terms of natural disasters – and we could face a significant event this week as Cyclone Albert approaches the east coast—helping more Australians to better afford their insurance policies will also reduce the amount of money taxpayers fork out in the aftermath.

“This policy complements our other measures for cost-of-living and tax relief. We also plan to exempt building materials from the GST to help make new homes more affordable, enable couples with children to split incomes and save on income tax, halve the fuel excise for at least 12 months, abolish the excise on alcohol served at hospitality venues, freeze excise increases for all alcohol, and crack down on Medicare fraud to increase bulk-billing rates.

“Australian households and businesses are doing it tough in Labor’s cost-of-living crisis. One Nation is proposing a suite of sensible, practical measures to put more money in their pockets.”