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More tax refunds ‘reckless’, Treasurer warned

John Kehoe
John KehoeEconomics editor

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Treasurer Josh Frydenberg and Labor would be economically reckless to make an election pledge to extend a “temporary” $8 billion tax refund for low and middle-income earners for a fifth straight year, economists have warned.

They said that with the economy rebounding from the NSW and Victoria lockdowns, and budget spending pressures in social welfare programs and defence, it did not need more stimulus via an extension of the low and middle-income tax offset (LMITO).

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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com

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    Original URL: https://www.afr.com/policy/tax-and-super/more-tax-refunds-reckless-treasurer-warned-20211213-p59h3c