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.”
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Coalition free-for-all over 2050 target
British High Commissioner Vicki Treadell on AUKUS and climate change
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Word from The Hill: Christian Porter’s anonymous money pot
Kate Jenkins on the women‘s agenda
Word from the Hill: A Father‘s Day backlash hits Scott Morrison
Word from The Hill: Learning to live with COVID
Pat Turner on COVID – and god botherers – stalking Indigenous communities
Doherty’s Sharon Lewin on pivoting from chasing COVID zero
Word from the Hill: The battle to exit COVID
Word from The Hill: Was the Afghanistan War worth it?
Anthony Albanese says Afghans in Australia should be given permanent residency
Josh Frydenberg on uncertain economic times
Word from the Hill: A reprimand for Christensen and Morrison on climate
Shadow Treasurer Jim Chalmers on promoting vaccine uptake and a 'modest spending program'
a four-stage plan and a $300 payment to get vaccinated
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