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Jim Chalmers is now on RN Breakfast, where he was asked by host Hamish McDonald whether he was reconsidering the stage-three tax cuts given much of the $22.1bn budget surplus comes from the taxes of “hard working Australians”.
Chalmers said the government has not changed its view on the tax cuts, which recent data showed will flow disproportionately to high-income earners and men:
Well, first of all, it’s partly a function that people are working more and earning more. The labor market is incredibly resilient given what’s coming at us from around the world. And so unemployment is lower than what many people anticipated. And wages have began growing again, and that’s a good thing too. And that’s one of the reasons why the budgets in better nick but also getting good better prices for our commodities and what that means for company tax.
We haven’t changed our view about the stage three tax cuts, but we have found a way to provide substantial cost-of-living relief for people on low and middle and fixed incomes, because we recognise people are doing it tough and they’ve been our priority.
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