Project description

There is an alternative to Labor's proposed stage 3 tax cuts, which would benefit those in need and tackle economic challenges, writes UNSW Business School's Rodney Brown. Despite the passionate discourse across Australia�s major mastheads, Prime Minister Anthony Albanese and Treasurer Jim Chalmers had no choice regarding the stage 3 tax cuts. The current state of the economy is far different from that in 2019 when the Coalition tabled the tax cuts, which provided impetus for the modifications to be made. Given where we are in the political cycle, coupled with sustained cost-of-living pressures, Labor would have found it difficult to stick with the legislated stage 3 tax cuts that would have predominantly rewarded high-income earners.

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