Income tax cuts could ease mortgage burden, lift consumer spending
Income tax cuts promised by the federal government will almost certainly lift consumer spending, but the strain upon households from power bills, and the chance of interest rate increases, means Australians are just as likely to use any benefit to repay debt.
Tax cuts are also nowhere near as effective as stronger wage growth in correcting soft consumer sentiment, economists told The Australian Financial Review's quarterly survey, although the same experts are largely confident that wage inflation will accelerate in 2018 and help to narrow the confidence gap between business and consumers.
Read the full article on the Australian Financial Review.
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