Federal Treasurer Jim Chalmers will put his case forward today about a potential trim to the already legislated stage three tax cuts.
The tax cuts are not scheduled until July 2024 as two competing political narratives play out on the issue within the Albanese government.
Prime Minister Anthony Albanese remains committed to the stage three cuts, however, Treasurer Jim Chalmers takes a more pessimistic outlook – refusing to rule out the consideration of global economic factors.
"We must be serious about rebuilding our budget buffers, particularly given the deteriorating global outlook," Mr Chalmers said in a statement.
"We'll put a premium on affordable, responsible, sustainable spending – not fancy or flashy but fair and future focused."
