🇬🇧 Chancellor could raise business rates for department stores and supermarkets https://t.co/GMLeB2PwwX
Anthony Albanese considers cash boost for millions of Aussies - but that could mean more tax hikes too https://t.co/pnnqYegTj6
The Albanese government is refusing to rule out further tax hikes after confidential advice was accidentally released showing Treasury told the government “tax should be raised” to repair the budget. https://t.co/VFrCuiT1qQ
The Australian government, led by Prime Minister Anthony Albanese and Treasurer Jim Chalmers, is facing scrutiny over potential tax increases amid mixed signals on tax policy. Confidential Treasury advice, inadvertently released, recommended raising taxes to repair the budget, fueling speculation about further tax hikes. A report warns that Labor's plan to tax unrealised gains on large superannuation accounts could jeopardize funding for over 600,000 small growth companies and startups. Meanwhile, calls for comprehensive tax reform include proposals to tax the gas industry, close tax loopholes, and end fossil fuel subsidies, which could generate up to A$63 billion to support public services and reduce inequality. In the UK, Chancellor Rishi Sunak is considering raising business rates for department stores and supermarkets, reflecting broader concerns about tax policies in major economies. The Australian government is also contemplating cash boosts for millions of citizens, which may be accompanied by increased taxation. These developments highlight ongoing debates about balancing fiscal responsibility with economic growth and social equity.