Albanese backs Chalmers on income tax cut U-turn
The nation’s highest income earners stand to lose thousands of dollars a year under changes being contemplated to the promised income-tax cuts by Labor, which were nudged along on Friday by Prime Minister Anthony Albanese.
Although the government stresses that no final decision has been taken to pare back the stage three tax cuts, Mr Albanese backed the case being made by his Treasurer Jim Chalmers that economic circumstances had changed and, therefore, “difficult decisions” need to be taken as early as the October 25 federal budget.
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