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The Latest Breaking News from Tax Cuts

We could make most Australians richer and still save billions – it’s not too late to fix the Stage 3 tax cuts

The Albanese government is about to have to make a really important decision.

The Conversation

Rachel Reeves plans pensions reform as part of Labour’s growth plan

Shadow chancellor also backs planning changes and industrial strategy, but no ‘unfunded tax cuts’

The Guardian - UK

Texas voters gave retired teachers raises and approved new infrastructure funds as most constitutional amendments passed

Voters approved a massive property tax cut and several other measures, but refused to raise the mandatory retirement age for judges.

The Texas Tribune

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Scrap stage-three tax cuts to fight inflation rather than cut infrastructure funding, Queensland says

Deputy premier Steven Miles says it’s ‘too late’ to cancel projects and any effect on demand is likely to be years away

The Guardian - AU

How to Save Yourself and Your 401(k) From Rising Taxes

Taxes will go up if provisions in the Tax Cuts and Jobs Act are allowed to sunset, but there’s still time to lock in lower taxes on your 401(k) savings.

Kiplinger

The ‘low hanging fruit’ on London businesses’ Autumn Statement wishlist

Next month’s Autumn Statement is unlikely to be one filled with tax cuts and lavish spending plans

Evening Standard

Crossbenchers urge Labor to have ‘courage’ on changes to resources tax and stage-three tax cuts

David Pocock, Monique Ryan and Dai Le support revamping taxes to raise more revenue to address cost-of-living crisis

The Guardian - AU

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Democrats Say They're Fighting Inequality. But Many of Their Policies Favor the Rich.

Over the last several years, they have worked nonstop to ease the tax burden of their high-income constituents.

Reason

Rishi Sunak ‘confident’ of tax cuts as rumours of election next autumn increase

But the Prime Minister said it remained the ‘right economic policy’ to focus on delivering his pledge of halving inflation.

The Independent UK

No plan for nuclear waste despite Aukus submarine deal, Senate hears – as it happened

Australia is planning to obtain nuclear-powered submarines, but has nowhere to dispose of radioactive waste

The Guardian - AU

The perfect recipe for fascism

Professor Gavriel D. Rosenfeld on the toxic stew of tax cuts to rich people while placating racist scapegoating

Salon

Rishi Sunak faces backbench discontent a year into his time in No 10

PM under pressure from Tory right for more tax cuts and from moderates for policies to tackle cost of living crisis

The Guardian - UK

Rishi Sunak ‘considering tax cuts to win back lost Tory voters’ after byelection defeats

The threshold for paying the 40 per cent higher rate of income tax could be raised in the 2024 spring budget, according to one report

The Independent UK

UK government borrowing almost £20bn lower than expected

Despite figures for six months to end of September, analysts play down chance of pre-election tax cuts

The Guardian - UK

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The Independent UK

UK economy in ‘horrible bind’ as recession looms with no room for tax cuts, say experts

Britain in for ‘protracted period of high taxes and tight spending’, says Institute for Fiscal Studies

The Guardian - UK

Tories have no room for tax cuts despite £52bn a year stealth rise, says IFS

UK stuck between weak economic growth and risk of persistently high inflation, says thinktank

The Independent UK

UK economy in ‘horrible’ bind with no room for tax cuts as recession looms – IFS

Britain is heading towards a recession next year as borrowing costs stay elevated, the IFS warned in its latest Green Budget.

The Conversation

UK bonds have hit a 25-year high – here's what that means for the economy

It’s been more than a year since the UK economy was thrown into crisis after then-prime minister Liz Truss suggested making a wealth of unfunded tax cuts in her September 2022 mini-budget. But a recent bond market sell-off has now sent borrowing costs rocketing again, pushing the bond market even…

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AAP

Tax cuts not 'all or nothing' in mooted middle ground

The Australia Institute has proposed changes to looming tax cuts to reduce bracket creep and improve the budget bottom line.

The Guardian - AU

Morning Mail: new tax cuts push, World Cup to span three continents, crypto empire ‘built on lies’

Thinktank suggests four ways the treasurer could reform stage-three cuts as Fifa reveals the (many) hosts of the 2030 tournament

The Guardian - AU

Stage-three tax cuts: overhaul could save budget $130bn and deliver bigger savings to most workers

Australia Institute says its plan would let government lift jobseeker payment while still improving budget bottom line

The Independent UK

Rishi Sunak’s majority at risk as 60 Tory MPs join Liz Truss group

Former PM told Tory members to ‘unleash their inner conservative’ at packed rally

Evening Standard

Liz Truss signs autographs as she’s met by sweeping queues at Tory conference

The former prime minister rallied the still supportive Tory membership at the fringes of the party conference in Manchester

The Independent UK

Liz Truss met by sweeping queues at Tory conference as she calls for tax cuts

The former prime minister rallied the still supportive Tory membership at the fringes of the party conference in Manchester.

Evening Standard

I’ll chart a path to lower taxes – I just can’t say when, Jeremy Hunt tells Tories

The Chancellor has ruled out tax cuts this year but is keeping alive hopes of a pre-election giveaway

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