The opposition leader said the inflation environment and government spending undermined the affordability of restoring the Coalition's full tax cut for high earners.
Opposition Leader Peter Dutton has signalled the Coalition may not seek to restore the full stage 3 tax cuts, citing concern about fuelling inflation.
"I think the priority, to be honest, is to get inflation down, to get interest rates down and to support jobs in the economy … I think we're coming into a difficult period. I think a lot of families well and truly experiencing that difficulty." Mr Dutton was not that explicit, but also promised "a significant tax policy which will reduce taxes".
"So if there are ways in which we can help people, we'll do that, but it'll largely be dependent on what the numbers are coming into the next election," he said.The original stage 3 tax cuts, as legislated under the Turnbull and Morrison governments, would have abolished the 37 per cent tax bracket and applied a uniform 30 per cent tax rate on taxable incomes from $45,000 and $200,000.
At the time, Prime Minister Anthony Albanese said the change was motivated by a desire to provide cost of living relief.
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