Tax cuts, massive increases to health and education spending and a revolutionary plan to stop the boats.

The biggest and newest player in Australian politics also plans to raise pensions, abolish the fringe benefits tax, repeal and refund the carbon tax and merge the country's three biggest car-makers.

And to fund it, mining magnate Clive Palmer will revolutionise the way company tax is collected.

Mr Palmer launched his vision for Australia on Queensland's Sunshine Coast on Sunday, unveiling Palmer United Party policies he says will "turbocharge" the national economy.

The man regarded as Queensland's wealthiest will mount the biggest challenge of any political party at next month's election, fielding candidates in all 150 lower house seats and a full Senate team.

Mr Palmer declared the election campaign so far devoid of ideas, claiming Prime Minister Kevin Rudd and Opposition Leader Tony Abbott are intent on "shrinking the economy to the size of a pea".

In a style usually reserved for American presidential contenders, Mr Palmer entered the pavilion at his five-star Coolum resort to a booming rendition of "Eye Of The Tiger" and flanked by six police officers.

He was announced by John Bjelke-Petersen, son of the former Queensland premier and a Palmer United candidate, and greeted by around 400 supporters who had been warmed up with a couple of documentaries on their leader.

"We meet today in a country known for its strength, among people known for their resilience and we find our nation in need of both strength and resilience," Mr Palmer told the cheering crowd.

"Abbott wants to cut government expenditure and shrink the economy to the size of a pea.

"Rudd wants to join Abbott and they both want to tax us to oblivion. They are both boring."

Mr Palmer was anything but.

The major plank to his economic policies is a revamping of company tax to make it payable at year's end rather than quarterly in advance.

According to the Palmer theory, the $70 billion the tax is estimated to raise would thereby remain in the economy for 12 months generating jobs and taxes.

The company tax plan would in turn pay for a 15 per cent income tax cut, creating further spending.

The party also would make the first $10,000 of every home loan tax deductible, abolish the fringe benefits tax, halve tax paid on second jobs, increase the age pension by 20 per cent and inject $80 billion into health the national health budget.

In a novel approach to the asylum seeker dilemma, Mr Palmer will allow any potential immigrants to fly into Australia on an $800 return ticket and without a visa.

On arrival they would be given a hearing and if they were deemed to be unlawful they would be returned to wherever they boarded the plane.

He said the policy would save $6 billion a year and remove people smugglers from the process.

The Palmer United campaign travels to Sydney and Canberra on Monday, where its leader will debate fellow Queenslander Bob Katter.

 

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