The pressure that has been mounting on the Government to relieve cost-of-living increases intensified as the legislated stage 3 tax cuts for those above $45k incomes become due to kick in.
Following a disastrous 2023, Anthony Albanese called a snap caucus meeting to map out strategy for the upcoming year.
On the agenda is a decision to roll back the promise to deliver the previous tax revamp in full, with many feeling the top end tax cuts would add to resentment from those doing it tough at the lower end of the spectrum. A lowered tax benefit aimed at middle Australia could restore the Government’s fortunes, with the danger of being laid open to the charge of going back on rock solid promises from the Opposition and business leaders.
Image: Image : Shutterstock – Alex Bee
Produced By: Roderick Chambers
Featured In Story: Professor Tim Harcourt – Industry Professor and Chief Economist University of Technology Sydney
First aired on The Wire, Wednesday 24 January 2024