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The Latest Breaking News from Tax Cuts

FTSE 100 Live 21 February: UK in record budget surplus, HSBC disappoints despite $30bn profits

HSBC, BAE Systems and Rio Tinto are among the heavyweight London-listed stocks in the spotlight today.

Evening Standard

The first step to our economic liberation is to tear up these crippling fiscal rules

How are we to get out of this recession if not through investment, investment, investment?

The Guardian - UK

Sunak is warned spending squeeze could lead to Conservative party wipeout at election

As fresh party infighting erupts after two byelection losses, the right are targeting public service funding to pay for tax cuts while others urge restraint

The Guardian - UK

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Australia news live: Taylor Swift shows to go ahead at Sydney Olympic Park after no asbestos found – as it happened

This blog is now closed

The Guardian - AU

Tax cuts aimed squarely at regions, PM declares

Prime Minister Anthony Albanese says Labor's revamped stage three tax cuts will largely benefit working Australians from the bush.

AAP

Tory MPs warn Sunak veering further right would be ‘politically disastrous’

Leading members of party’s One Nation caucus caution against any ‘attempt to become the Reform party’

The Guardian - UK

Rishi Sunak warned against fresh austerity drive to finance tax cuts

Unions outraged as Jeremy Hunt said to be considering cutting public spending to balance books in next month’s budget

The Guardian - UK

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Jeremy Hunt ‘considering spending cuts’ to fund pre-election tax giveaway

Treasury looking at reducing projected rise in public spending from 2025, FT reports citing insiders

The Guardian - UK

Australia’s economy likely to slow until stage-three tax cuts, lower interest rates and easing inflation kick in, CBA says

Spending tipped to moderate until households start getting some relief in the middle of the year, CommBank chief economist says

The Guardian - AU

Revamped income tax cuts clear their first major hurdle

Taxpayers earning under $150,000 are in line for a greater tax cut, after the Albanese government's overhauled income tax package cleared the lower house.

AAP

UK's Hunt eyes public spending cuts to fund tax cuts

The Financial Times reports that the UK's Chancellor of the Exchequer, Jeremy Hunt, is considering further reductions in public spending to finance tax cuts.

Top News

PM delivers big pitch on tax cuts as crucial vote nears

People are doing it tough and should keep more of what they earn, the prime minister has declared in a big pitch to parliament on income tax cuts.

AAP

Hunt warned that UK tax cuts risk increasing mortgage rates

“A policy package that ends up lifting mortgage rates is the last thing Hunt will want with an election looming” Bloomberg economist Dan Hanson said

Evening Standard

Guardian Essential poll: any changes to negative gearing get lukewarm support

Voters approve of Labor’s rejigged income tax cuts but any broader reform would fail to win over majority, latest survey finds

The Guardian - AU

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The Guardian - UK

CBI tells Jeremy Hunt to focus on green investment instead of tax cuts in budget

Lobby group joins calls for chancellor to resist pre-election giveaways next month and spend on projects to boost economy

AAP

Property investors in focus as tax debate shifts gears

As home ownership becomes increasingly difficult for many, pressure is growing on the major political parties to revisit tax reform.

The Guardian - AU

The Crunch: a widening ideological divide and the decline of birds

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AAP

'They'll never change': PM goes on attack over tax cuts

Anthony Albanese has launched a full-throated attack against the coalition after it loudly complained and then quickly capitulated over changes to tax cuts.

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Kiplinger

Four Reasons to Tap Opportunity Zones Before They Expire

As a provision in the Tax Cuts and Jobs Act, opportunity zones could sunset at the end of 2026, but there’s still time to maximize major tax benefits.

AAP

Coalition 'cannot be taken seriously' on tax, PM claims

The prime minister says the federal opposition cannot be taken seriously after agreeing to back in stage three tax cut changes following earlier criticism.

The Guardian - AU

Peter Dutton said Labor’s tax changes would bring down the government – now he’s voting for them

Labor has wedged the Coalition so successfully that Dutton will vote for the breach of promise he said would end Anthony Albanese

The Guardian - AU

Stage-three tax cuts: Labor’s changes to pass parliament with Coalition support

Peter Dutton says opposition won’t stand in the way of Labor plan, but Greens still in negotiations over $359bn package

The Guardian - AU

Littleproud says planned renewables rollout ‘pure insanity’; RBA governor quizzed – as it happened

All the day’s news as it unfolded

AAP

Church bells and protest chants as parliament returns

A church service offered a moment of quiet as federal politicians returned for 2024, before protests and tax debate brought sound and fury back to Canberra.

AAP

Tax cuts all but assured as coalition backs changes

Households struggling with living costs can breathe a sigh of relief, with the coalition agreeing to back Anthony Albanese's reworked tax cuts.

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