Original article by Geoff Chambers, Adam Creighton, Greg Brown, Michael Roddan
The Australian – Page: 1 & 4 : 5-Jul-19
Harvey Norman executive chairman Gerry Harvey says the federal government’s income tax cuts will boost the retail sector and consumer spending. The tax cuts have also been welcomed by Business Council of Australia CEO Jennifer Westacott, who says further action is needed to ensure long-term economic growth. Meanwhile, Chris Richardson of Deloitte Access Economics expects the tax cuts to have a bigger impact in the near-term than the recent interest rate cuts. Labor agreed to back the full tax package in the Senate after its proposal to bring forward the stage-two cuts and legislate stage three separately was rejected.
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, BUSINESS COUNCIL OF AUSTRALIA, DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIAN LABOR PARTY, CENTRE ALLIANCE, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AMP CAPITAL INVESTORS LIMITED, AUSTRALIAN TAXATION OFFICE, ONE NATION PARTY, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED