Spending wins over tax cuts; big ticket items get boost

Thu, 08 Dec 2016

By Pattrick Smellie Dec. 8 (BusinessDesk) - Income tax cuts are on hold as the government says “responding to the earthquakes and reducing debt are currently of higher priority”, although election year tax sweeteners remain possible. Today’s Budget Policy Statement shows a government sensitive to polling that suggests public appetite for spending increases on public services and debt reduction is preferred over tax cuts as the best way to use the massive budget surpluses that are forecast over the next four years. “The Half Year Update...

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