Potentially unaffordable, and it still won't fix bracket creep. The Coalition's $300 billion tax plan assessed
- Written by Danielle Wood, Program Director, Budget Policy and Institutional Reform, Grattan Institute
The big surprise in last week’s budget was the size of new income tax cuts – A$158 billion over a decade, in addition to the A$144 billion already promised in last year’s budget.
A lot of the plan doesn’t take effect until 2024-25, so it’s easy to dismiss as tax cuts on the never-never. But given it’s a central plank of the government’s campaign for re-election, it deserves closer scrutiny.
Authors: Danielle Wood, Program Director, Budget Policy and Institutional Reform, Grattan Institute