Alan Kohler

It's general advice only, not personal advice.

So please bear that in mind.

John says, I see this coming federal budget as a tax grab, making up for unbalanced budgets, not some excuse for helping new generations.

So what do we get?

A pathetic one cent tax cut and a broken stage three tax cuts promise.

They know how the indexation system works, so why don't they just index the tax brackets as well?

unless they restructure the tax system in such a way that they're less reliant on rising income taxes, they will not be indexing the tax system.

No.

I don't think it's true that inflation hasn't been within their target since 2021.

I mean, it did fall.

Last year in fact, before rising again, it went to the low twos.

So yeah, it was the targets, 2% to 3%.

But yeah, it has been within the target.

No, that's right.

I mean, they've kind of shifted it.

It seems to be now more a point in 2.5% rather than a range.

They're going for 2.5%.

I think it's fair to say.

Yeah, look, I mean, I think that there was a time when inflation was under the 2% and they were cutting interest rates in order to get it up.

And I think that was a mistake.