Politics with Michelle Grattan
News:Politics
The tax offset for low and middle income earners (LMITO) will not be extended beyond this financial year, so does this amount to a tax increase for these people?
Treasurer Josh Frydenberg tells the podcast the offset was a “temporary measure” that was extended as fiscal stimulus, due to the pressures on the budget from COVID. It’s being removed “now that the economy is normalising”.
With unemployment set to fall below 4%, Frydenberg also says “what we think is going to happen is upward pressure on wages”.
Annual wage growth is at 2.3% but Frydenberg says there’s a “broader indicator of earnings across the economy [Average Earnings in the National Accounts (AENA)] which has been higher than where the wage price index is. It’s expected to get to 5% this year, which is above where inflation is at. That’s a broader earnings indicator, which takes into account bonuses, promotions, people moving jobs and the like.”
The treasurer, who holds the Victorian seat of Kooyong, is one of the Liberal members being targeted by “teal” independent candidates running on issues such as climate and the need for a federal integrity commission.
Frydenberg – who is more popular than Scott Morrison in the “leafy” seats – will be used to campaign where these candidates are strong. “I will give as much support as I can to my colleagues who face those opponents.”
Dave Sharma, Allegra Spender, and Kerryn Phelps on the contest for Wentworth
On the rate rise, Albanese’s launch and what a Frydenberg loss would mean for the Liberals
Economist Saul Eslake on why Reserve Bank needs to raise rates next week
Ray Hadley’s shouty assault on Albanese; the intractable Solomons issue; and the wider play of Deves
Andrew Wilkie invites independent candidates to call him for a chat about approaching a hung parliament
Joe Hockey on Trump, Biden, and the federal election
Morrison suggests voters judge him as they would their dentist
Word from The Hill: Next step for Morrison is visit to governor-general
Politics with Michelle Grattan: Jim Chalmers on the budget Labor can’t oppose
Sarah Ferguson on reporting from Ukraine
Labor will give human rights award in memory of Kitching
Stay calm, petrol is headed down, budget is improving – economist Chris Richardson
Be careful what you say about your opponent’s ‘makeover’
Mark Maund on improving our resilience to deal with flood crises
Word from The Hill: Subs, floods and people saying it’s ‘time to give someone else a go’
Russian specialist Matthew Sussex on Putin’s potential to start wider war
Assistance for Ukraine and Peter Dutton’s fundraising
Australian politics in an uncertain world
Labor defence spokesman Brendan O’Connor on China and Ukraine
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