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The Latest Breaking News from Tax Cuts

‘Catastrophe’: Warning that benefits cut would plunge 200,000 more children into poverty

Liz Truss urged to abandon plan to fund tax cuts by increasing payments for poorest in line with wages rather than inflation

The Independent UK

Albanese urged not to ‘lose the moment’ for tax reform as he squashes debate on stage-three cuts

Economists say the tax cuts are unaffordable and should be trimmed or changed, either now or in May

The Guardian - AU

Federal government appears set to maintain stage 3 tax cuts in this month's budget despite mounting speculation

The federal government is unlikely to change income tax cuts that will predominantly benefit high and middle-income earners in this month's budget.

ABC News

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Stage-three tax cuts: what are they, how do they work and why do they exist?

They’re the biggest debating point ahead of the Labor government’s October budget, but what actually are the stage-three tax cuts?

The Guardian - AU

PM doubles down on tax cut continuity

Debate rages over whether Labor is considering amending legislated tax cuts but Prime Minister Anthony Albanese says there are no plans to change course.

AAP

Growing number of Australians want the stage-three tax cuts scrapped, poll shows

Public opinion for repealing the package now sits at 48% as people become better informed about the consequences

The Guardian - AU

Freeze state pensions and slash ‘non-frontline’ NHS and schools staff, said No 10’s economic adviser

Radical ideas to reduce spending, outlined in Matthew Sinclair’s 2010 handbook, may now be needed by the Tories to pay for their tax cuts

The Guardian - UK

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Liberals vow tax cut fight at 'every step'

Despite the Prime Minister's assertions the government has not changed its position on tax cuts, the Deputy Liberal Leader says Australians can't be confident.

AAP

Labor's Stage 3 tax cut kite-fly pits budget economics against election promises

Doing the sums on Coalition tax cuts

Newcastle Herald

OBR forecasts likely to show £60bn-£70bn hole after Kwarteng’s mini-budget

Predictions handed to chancellor expected to paint gloomy picture for UK economy amid sweeping tax cuts

The Guardian - UK

Michael Pascoe: Morrison heeded the Tooth Fairy when Treasury warned against tax cuts

In 2018, when Scott Morrison announced his tax-cut package, Treasury laid out in black and white the grounds for scrapping Stage Three

The New Daily

Anthony Albanese leaves open possibility of changes to stage-three tax cuts

Prime minister says government ‘hasn’t changed our position’ but does not rule out doing so in future

The Guardian - AU

Morning mail: Zelenskiy appeals to Australia, 37 dead in Thailand attack, Annie Ernaux’s Nobel win

Friday: Ukraine’s president has urged world leaders not to give in to Russia’s ‘nuclear blackmail’. Plus: should Labor scrap the stage-three tax cuts?

The Guardian - AU

Grattan on Friday: Jim Chalmers plays the tease as he pushes to change Stage 3 tax cuts

When Scott Morrison was treasurer he flew the kite for an increase in the GST. The debate ran a while, before then prime minister Malcolm Turnbull shut it down. It was all too hard.

The Conversation

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Wales Online

Households on every income to be worse off in three years after mini-budget, study claims

The freezes will take away £2 for every £1 given to households through tax cuts, the study suggests

The New Daily

Stage-three tax cuts in the spotlight as global gloom weighs on federal budget

Amid warnings global monetary tightening might give way to worse, Treasurer Jim Chalmers says the upcoming budget will not be immune.

Evening Standard

Moving on up? Just stop the pound going down, Liz

City Voices: Truss’ speech showed she didn’t understand the causes of stagnant economic growth or has a credible plan to solve them

The Guardian - AU

Labor attacked by former RBA governor Bernie Fraser for sticking to ‘dodgy’ stage-three tax cuts

Fraser says Albanese government should repeal stage three as the tax cuts are ‘even more unfair’ due to falling real wages

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The Guardian - AU

Jim Chalmers has a unique chance to remake Australia – or to squander $243bn on the rich

Australia is one of the richest countries in the world but decades of tax cuts have trained us to feel poor

The Guardian - UK

IFS: Millions in Britain ‘face stealth tax raid’ under Liz Truss’s plans

For every £1 given workers by cutting tax rates £2 was being taken via freeze on income tax thresholds, thinktank calculates

The Independent UK

£2 taken from households in ‘stealthy’ freezes for every £1 in tax cuts – IFS

By 2025–26, freezes will take away £2 for every £1 given to households through the headline personal tax cuts, the Institute for Fiscal Studies said.

AAP

Tax cut needed to ease mortgage pain: Libs

Tax cuts due to come into effect from mid-2024 have become a flashpoint for the upcoming budget as Australia faces economic headwinds.

ABC News

Former ACCC boss Rod Sims calls for tax increases amid debate over stage 3 cuts

The former chair of the ACCC says taxes must rise if the federal government wants to deliver the essential services Australians demand.

The Guardian - AU

Liberal moderate Bridget Archer says Labor right to be questioning stage-three tax cuts

Archer tells Albanese government ‘it’s OK to change your mind’ as debate continues within ALP about future of Coalition tax package

The New Daily

Stage-three tax cuts: What makes them so controversial?

Stage three tax cuts will kick in during 2024 and on net it will benefit people who earn over $180,000, or the top 3.7 per cent.

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