The COVID-19 pandemic has hit the production side of the economy, So how will tax cuts for those on high incomes help?
The National Centre for Social and Economic Modelling has calculated the impact of the 2019 federal budget’s tax and welfare transfer changes.
The Morrison government’s tax changes will benefit high income earners the most and low income earners the least, says the National Centre for Social and Economic Modelling.
It would have been a huge setback if the government hadn’t secured its income tax package, which was the budget’s centrepiece.
More crucial than the fate of the company tax cuts is the government’s long struggle to nail down its NEG, with the crunch coming when Josh Frydenberg meets his COAG counterparts on August 10.
Michelle Grattan speaks with Mark Evans about the week in politics.
Rebekha Sharkie is well known in the electorate.
The poll was commissioned by the Australia Institute, a progressive think tank.
Forecasting income tax a decade into the future is a tricky proposition.
AAP Image/Joel Carrett
The income tax cuts in the 2018 federal budget are likely to be modestly regressive, giving high earners a lower share of the overall tax burden. But by 2028 income tax will be higher across the board.
Michael McCormack on Barnaby’s future, latte sippers and other matters.
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In this interview Nationals leader and Deputy Prime Minister Michael McCormack pointedly avoids saying Joyce should run again in his New England seat at the election.
Greens leader Richard Di Natale said with inequality rising, reinvestment in public services should be the priority.
Instead, the funds should be spent on services, the Greens say.
Timing tricks help politicians avoid dealing with the substance of their policies. That isn’t going to change any time soon.
It seems that timing tricks are now a thing in Australian politics. Revenues are brought forward and spending pushed back for cosmetic effect.
In this budget, it was vital for the government that it be seen to be fair dinkum about fiscal repair.
The three part plan is the centrepiece of Tuesday night’s budget, which also brings forward by a year the forecast return to surplus and the peak of Australia’s net debt.
Morrison says that people deserve to be able to “keep their own money”.
While the budget will come in for its share of criticism, looked at overall it is designed not to offend an electorate that has already turned off the government.
Morrison being seen wrestling with a beer barrel is obviously preferable to being caught off guard smoking a cigar.
With the poll due in a year, people will view Tuesday’s budget as coming from a government desperate for approval, presenting a smiling face.
Michelle Grattan speaks with Nicholas Klomp about the week in Australian politics.