Surprise federal tax cuts announcement
Prime Minister Malcolm Turnbull has fired the first shot in an election campaign thay may still be 18 months away, with his totally unexpected announcement promising income tax cuts for low and middle income earners.
This announcement should be seen as a move by the PM to create a political circuit breaker at a time when he, and his Government, are plagued with political instability – and the resultant adverse polls – caused by the “Dual Citizenship” debacle, the consequential16 December by-election in Bennelong and the prospect of a series of consequential by-elections in March 2018 that could end up forcing the Government to an early election in 2018.
The income tax cut move, and the potential positive impact on the polls, could also be seen as a move by the PM to re-build his stocks with his own backbench and head off the prospect of a leadership challenge before Parliament rises in December.
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