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Income taxes to rise to pay for ‘stupid’ policies, warns economist

Michael Read

The federal government is becoming increasingly reliant on taxing workers and has squandered the biggest surge in revenue on record by funding a series of expensive and “stupid” policies, Australia’s leading budget watcher Chris Richardson has found.

In an audit of the federal government’s finances, commissioned and published by The Australian Financial Review on Sunday, Richardson concluded that Treasurer Jim Chalmers’ projections for spending restraint over the coming years were unrealistic.

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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com

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    Original URL: https://www.afr.com/policy/economy/income-taxes-to-rise-to-pay-for-stupid-policies-warns-economist-20250316-p5ljwl