The OECD this week slashed its forecasts for growth in the global economy from 2.8 to 2.2 per cent in 2023.
For Australia, the downgrade was from 2.5 to 2.0 per cent.
"That will have an impact on our own growth prospects in the domestic economy. And that has consequences for unemployment as well. And I think you'll see that in the forecasts in the budget, which are being finalised as we speak."
The "Stage 3" income tax cuts legislated by the previous Morrison government will go ahead as planned and without modification, the treasurer confirmed.
The cuts will kick in from July 2024 and will abolish an entire bracket from Australia's tax system so everyone earning from $45,000 to $200,000 will pay only 30 cents of every dollar they earn.
The biggest winners from the cuts will be high-income earners.
The “Stage 3” income tax cuts legislated by the previous Morrison government will go ahead as planned and without modification, the treasurer confirmed.
Ah, well, nevertheless,
:joker-dancing:
Democracy is when both parties are largely the same