David Uren asks the question today:
Scott Morrison gets irritated when Labor politicians (and ABC journalists) say the government will “blow the budget” with its $65 billion company tax cuts. The tax cuts, he says, are already in the budget and have been since they were announced in 2016.
The budget shows a return to surplus in 2020-21, including the company tax cuts, and indeed shows further tax cuts for business or individuals will be required from 2022-23 onwards if the government is to honour its promise to keep total tax revenue to no more than 23.9 per cent of gross domestic product. The Treasurer notes that the budget estimates have been rubber-stamped by the key credit rating agencies, preserving Australia’s AAA rating.
