Fresh of the presses:
That will have an impact across the budget period and what I can confirm is that the impact in the current financial year, between last year’s budget and this year’s budget looks to be in the order of $17 billion.
…Ms Wong said as a result of falling revenue, the government had been forced to back away from some spending promises associated with the mining tax, particularly an increase to the rate of Family Tax Benefit Part A in conjunction with the government’s ‘Spreading the benefits of the boom’ package.
And of course “spreading the boom” ain’t going to work given we aren’t collecting the tax revenue we should be.
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