Opinion
The stage three tax cuts exist in a different world from 2019
As bracket creep starts to bite harder, the Albanese government might want to start rethinking where its tax cut focus should be.
Laura TingleColumnistIt was a very different world in July 2019. Scott Morrison’s Coalition had just won an election against a Labor Party proposing radical tax change. Economic growth was plodding along below its long-term average at around 2.75 per cent. Wages growth was stagnant. There was rising underemployment.
In that “never satisfied” way of politics and economics that sounds a little weird to 2023 ears, the inflation rate at the time of just 1.3 per cent was seen as a bad thing: a sign of the sluggishness of the economy, not just here but around the world.
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