Pre-election budget keeps us on a dangerous fiscal trajectory
Under Treasurer Jim Chalmers, everyone gets a prize; the tax relief measures in the budget are essentially a political response to pressure on the government over bracket creep.
After downplaying expectations ahead of the pre-election budget Labor had never planned to deliver, Jim Chalmers sprang a surprise on Tuesday night by handing out $17 billion worth of modest personal income tax cuts for all workers.
Chalmers’ fourth budget promises to lower the bottom 16 per cent income tax threshold to 15 per cent from July 1, 2026, then cut it again to 14 per cent from July 1, 2027.
Loading...
The Australian Financial Review’s succinct take on the principles at stake in major domestic and global stories – and what policy makers should do about them.
