It is “extremely unlikely” the federal budget this month will include amendments to stage three tax cuts, according to Sky News Political Editor Andrew Clennell. Mr Clennell said Treasurer Jim Chalmers and Finance Minister Katy Gallagher have “been allowed to go out there and speculate on a potential change to the tax cuts”, however Prime Minister Anthony Albanese is “not keen to see any change on this front”. “The PM had considered amending the tax cut package to give less to higher income earners, given the importance of aligning fiscal and monetary policy,” he said. “And the fact that if the budget is not a tight one, it could see interest rates pushed up further. “But it appears his own election pledge will win out here in final budget discussions.” Mr Clennell said the discussion about stage three cuts has enabled the government to “reinforce with punters how this budget has to be a tough one with tough decisions”. “Perhaps it has also reinforced to people and journalists there is no room for extra cost of living relief in this budget, such as an increase to Jobseeker, because that would only drive-up inflation,” he said.
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