Dutton casts doubt on tax cuts for high earners

Tom McIlroy and Jonathan Shapiro

Nov 13, 2024 – 10.48am

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Opposition Leader Peter Dutton has signalled he will abandon the Coalition’s pledge for further tax cuts for about 1.1 million high-income earners, warning the fight against inflation and lower interest rates would take priority in pre-election policy commitments.

As Treasurer Jim Chalmers vowed not to follow US president-elect Donald Trump’s lead to cut the corporate tax rate, despite renewed pressure from local business groups and economists, Mr Dutton appeared to walk away from plans to offer voters further changes to the personal income tax system.

Tom McIlroy is the Financial Review’s Canberra bureau chief based in the press gallery at Parliament House. He was previously the AFR’s political correspondent.

Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney.