Bob Gregory slams Peter Costello’s tax vandalism

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Via The Guardian:

One of Australia’s most respected economists has questioned the Turnbull government’s ability to balance the budget, saying the budget is projecting large tax increases to close the deficit but the government hasn’t admitted that yet.

…But he warns that path to budget repair is unrealistic because the public won’t accept personal income tax rates hitting the highest level in two decades, and the government is pursuing multibillion-dollar company tax cuts anyway.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.