Treasurer plans ‘ambitious’ changes to target intergenerational inequity. Follow today’s news live
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Jim Chalmers will today promise to deliver a trio of “ambitious reform packages” in the May budget that will rebuild fiscal buffers, make the tax system fairer, and lift the nation’s lagging productivity performance.
In a major speech in Melbourne today, the treasurer will commit to “make hard decisions” in the upcoming budget, amid an ongoing US-Israel war on Iran that “is adding to inflation risks, weighing on growth, and increasing already elevated uncertainty”.
We are working on more tax reform in the budget – how much we can do in May depends on fiscal considerations, international developments and cabinet deliberations.
We recognise an outdated tax system is weighing on the opportunities faced by younger Australians and future generations.
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