Changes to stage three tax cuts a ‘real failure’ for tax reform

Manager of Opposition Business Paul Fletcher says Labor’s changes to the stage three tax cuts are a “real failure” for tax reform. Labor has decided to break its election promise on stage three tax cuts following an emergency caucus meeting last week to address Australia’s cost of living crisis. “The stage three tax cuts were part of a structured plan to achieve meaningful tax reform,” he told Sky News Australia. “Very much designed to encourage aspirational Australians, to encourage activity and productivity in our economy. “It is very disappointing to see that fundamental aspect of this reform just completely junked by Anthony Albanese based upon short-term political imperatives.”