Speaking to an Australian Business Economists lunch in Sydney, Dr Steven Kennedy threw his support behind the government’s tax cap, which aims to limit revenue collections to 23.9 per cent of the economy’s annual output (GDP).
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Budget spending cuts likely once COVID recovery complete, Treasury secretary admits
Big budget cuts are likely once the economy has fully recovered from COVID-19, with the Treasury secretary revealing an 8 per cent cut in federal government spending is needed to eventually balance the books.
