RBA has not looked at whether redistribution of tax cuts to lower and middle income earners could add to inflationFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastNeither the Treasury nor Reserve Bank modelled the inflationary effects of the Albanese government’s changes to the stage-three tax cuts even though both agencies have told treasurer Jim Chalmers that the amendments would not spur price increases.Treasury conducted other modelling, though, including calculating tax receipts will actually be $28bn higher over the decade to 2034-35 than under the original design.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…
Source link : https://www.theguardian.com/business/2024/jan/25/stage-three-tax-cut-changes-not-modelled-by-treasury-or-rba-before-announcement
Author : Peter Hannam Economics correspondent
Publish date : 2024-01-25 05:02:02
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Stage-three tax cut changes not modelled by Treasury or RBA before announcement
