Original article by David Uren, Ben Packham
The Australian – Page: 1 & 4 : 1-May-18
Treasurer Scott Morrison says the Federal Government will ensure that tax revenue is capped at no more than 23.9 per cent of GDP, and it will cut personal income taxes when necessary to avoid breaching this threshold. However, shadow treasurer Chris Bowen says this suggests that the Coalition has backtracked on its stated policy of achieving a Budget surplus that is equivalent to one per cent of GDP. Business Council of Australia CEO Jennifer Westacott argues that personal income tax cuts should not be on the government’s agenda unless it also pursues measures that will increase productivity, such as reducing the corporate tax rate.
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA, DELOITTE ACCESS ECONOMICS PTY LTD