didnt dutton just yesterday toot the liberal party horn as the party of lower taxes.. and then this today.. anyway
the altered stage3 now provides about 28bn of taxes (out to 2035) that otherwise would have gone to the 'top earners'. in context the ndis(not knocking it just using it as an example) is blowing out to a high water mark estimate of 120billion frikin dollars in the next 10 years...
"""The redesign of the Stage 3 cuts is broadly revenue neutral – reducing tax receipts by $1.3 billion over the forward estimates period from 2023–24 to 2027–28 but will increase tax receipts by around $28 billion over the medium term from 2023–24 to 2034–35. The redesign results in a small save to the budget in 2024–25 of around $1.3 billion (Table 1)""" Amending tax cuts to deliver broader cost-of-living relief (treasury.gov.au)
The annual bill for the National Disability Insurance Scheme is projected to blow out to more than $125 billion a year by 2034 amid warnings the number of participants could more than double.The projected bill, equivalent to 3 per cent of gross domestic product, is nearly a third higher than the $95 billion target cost of the scheme the Albanese government committed to in the May budget last year.
the tax thing is done, but you cant fiddle with stage 3 and say cost of living will be better, when the administration of government spending is out of control in areas - essentially neutralizing any savings that were to be had. and we gotta pay back that blowout somehow
