The Coalition would implement caps on federal tax and spending measures if it came to power at the next election, Shadow Treasurer Angus Taylor has said. Delivering his budget reply address to the National Press Club on Wednesday, Mr Taylor pledged to reintroduce a 23.9 per cent cap on taxContinue Reading
Inflation could return to the Reserve Bank’s target band by the end of 2024, Tuesday’s federal budget will show, a full year ahead of the Reserve Bank’s own forecasts which predict a resurgence in price pressures. In positive news for cash strapped households, Treasurer Jim Chalmers third budget will predictContinue Reading
Amendments to the later overhauled stage 3 tax cuts were examined by the federal government as early as June 2022, correspondence between Treasury and Treasurer Jim Chalmers’ office has revealed. A two-page ministerial submission, released under freedom of information laws, shows Treasury officials presented three separate options to amend theContinue Reading
Anthony Albanese will use a major address to justify unravelling legislated stage three tax cuts in order to help “middle Australia”, arguing that policy must pivot to address the cost of living crunch. Despite guaranteeing dozens of times during the 2022 election, and in the 19 months since, that Labor’sContinue Reading
The federal budget deficit forecast for this financial year has been slashed to just $1.1bn, all but guaranteeing Jim Chalmers will deliver back-to-back surpluses. In a move designed to ease inflationary pressures, the Mid-Year Economic and Fiscal Outlook (MYEFO), released on Wednesday, shows revenue windfalls of $65bn since May willContinue Reading
The federal budget deficit forecast for this financial year has been slashed to just $1.1bn, all but guaranteeing Jim Chalmers will deliver back-to-back surpluses. In a move designed to ease inflationary pressures, the Mid-Year Economic and Fiscal outlook (MYEFO), released on Wednesday, shows revenue windfalls will be banked rather thanContinue Reading
Adam Bandt has sensationally accused Anthony Albanese of caring more about missiles and tax cuts for the well-off than Australians struggling with the cost of living. In his address to the National Press club on Wednesday, the Greens leader put the Prime Minister on blast for not acting on twoContinue Reading
More than one million Australians are likely to be left disappointed after the government hosed down expectations of a boost to welfare payments in the upcoming budget. A task force set up to provide advice to the Treasurer Jim Chalmers on income support payments, such as Jobseeker, found the $50-a-dayContinue Reading