Concerns tax cuts will be ‘eaten up very quickly’ if inflation ‘continues to rise’
Shadow Finance Minister Jane Hume says if inflation “continues to rise” the Albanese government’s new stage three tax cuts will be “eaten up very quickly”.
Concerns tax cuts will be ‘eaten up very quickly’ if inflation ‘continues to rise’
“People will not feel their real disposable income increase, which is what they are crying out for,” Ms Hume told Sky News Australia.
The Shadow Finance Minister’s comments come as the Albanese government’s stage three tax cuts come into effect today.
The cuts will deliver $23 billion across all taxpayers in the first year of operation.