Australian workers have been hard done by and tax reforms in the budget only begin to return some fairness | Greg Jericho
The CGT discount not only increased the benefit to non-wage earners, it did so in a way that incentivised investing in rental properties rather than shares
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Wages are growing at a much slower pace than inflation, according to the latest data. This fits the story of the budget: that those earning a living off wages have been left behind by those who make their money through investments and tax minimisation schemes such as discretionary trusts.
So I have some good news for the governor of the Reserve Bank, Michele Bullock. She can relax. Because, as has been the case for roughly 35 years, there is no evidence of a wage-price spiral.
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