The Albanese Government looks to be maneuvering away from the legislated Stage 3 tax cuts, with Treasurer Jim Chalmers twice pointing to the chaos in Britain over new Prime Minister Liz Truss’s high-income tax cuts:
“What’s happening there, I think, is a cautionary tale about the costs and consequences of getting government policy and central bank policy out of whack, having fiscal and monetary policy working at cross purposes”…
“It is a cautionary tale about what it looks like when you risk getting that wrong. And so that’s not irrelevant to us as we put together our own budget to hand down this month.”
