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TAX CUTS NOT NECESSARLY INFLATIONARY: AUSTRALIAN MINISTER.
SYDNEY, Feb 1 Asia Pulse - The A$31 billion (US$27.77 billion) in tax cuts promised by the federal government will "not necessarily" exert pressure on inflation, Finance Minister Lindsay Tanner says.
Mr Tanner said today the tax cuts pledged by the Labor opposition in the run-up to the December election were already included in the federal Budget and would be delivered, together with a plan to deal with rising inflation.
He said there were two reasons the cuts might actually relieve some pressure on the high inflationary climate facing the Australian economy.
"One is that a fair swag of the tax cuts money is in effect giving back bracket creep," he told Fairfax Media.
"If you do nothing the effect of higher inflation pushes people up into the higher tax scales.
"... so a fair proportion of it is simply giving that back.
"You wouldn't stand still or the tax take would go higher ...
- Tax cuts contribute little to boosting economy: ministry.
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...Ministry said Tuesday that recent tax cuts contributed little to boosting...percent. The ministry said any tax cuts would likely widen the budget deficit...pressure on the nation to keep tax cuts in check. (THROUGH ASIA PULSE)
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- News wire article from: AsiaPulse News May 11, 2004 700+ words
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- News wire article from: AsiaPulse News January 8, 2003 700+ words
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SYDNEY, Sept 20 Asia Pulse - Tax cuts delivered by the federal government have been swallowed up by...could cut farm production by one-third this financial year. ASIA PULSE 20-09 0919
- AUSTRALIAN PM RAISES PROSPECT OF TAX CUTS.
- News wire article from: AsiaPulse News December 2, 2002 700+ words
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- News wire article from: AsiaPulse News May 8, 2007 700+ words
SYDNEY, May 8 Asia Pulse - Tax cuts expected in tonight's federal budget will be too little, too...delivered by Treasurer Peter Costello, the ACTU said anticipated tax cuts for low and middle income workers "might be a case of too little...
- HEALTH, DEFENCE TO GET PRIORITY OVER TAX CUTS: AUSTRALIAN TREASURER.
- News wire article from: AsiaPulse News December 16, 2005 700+ words
MELBOURNE, Dec 16 Asia Pulse - Tax cuts are high on the federal government's agenda but will take a back seat to health and...12 billion) plan to help it better fight terrorist threats at home and overseas. ASIA PULSE 16-12 1328
- TAX CUTS, LOW RATES BEST WAY TO KICK REVIVE ECONOMY: OPPOSITION.
- News wire article from: AsiaPulse News February 3, 2009 700+ words
CANBERRA, Feb 3 Asia Pulse - Tax cuts and interest rate reductions remain the best way to stimulate a flagging economy, the Australian opposition says ahead of a second...
Source: HighBeam Research, TAX CUTS NOT NECESSARLY INFLATIONARY: AUSTRALIAN MINISTER.