Five months ago, ahead of the Morrison Government’s tax cut package passing the Senate, Treasurer Josh Frydenberg was confident tax cuts would pump-prime the economy by juicing household consumption:
“The tax cuts are equivalent to two 25 basis rate point cuts. So they’re not insignificant. It’s billions of dollars into the economy”…
“They will add to household consumption, they’ll add to the disposable income of households and it will be good for economic activity.”
