Labor forces Coalition to vote on $17bn tax cuts

Labor’s $17bn tax cut plan passes amid Coalition opposition; election imminent, prompting criticism of modest relief measures.

Published

11 months ago

March 27, 2025

Ahron Young

Labor’s $17bn tax cut plan passes amid Coalition opposition; election imminent, prompting criticism of modest relief measures.

In Short

Labor’s $5-a-week tax cut plan has passed, facing opposition from the Coalition, which labelled it a “cruel hoax.”

Despite criticism, the bill received backing from the Greens and crossbenchers, promising future relief for taxpayers.

Labor has passed its $5-a-week tax cut plan, compelling the Coalition to vote against what they have termed a “cruel hoax.”

This legislation was introduced by Treasurer Jim Chalmers shortly after the government outlined the cost-of-living budget.

The Coalition promptly announced it would not support the tax cuts, allowing Labor to critique their refusal to back the relief measures before the upcoming election.

Despite opposition, the Bill passed 38 to 26 with support from the Greens and crossbenchers.

The $17 billion plan promises around $5 weekly to taxpayers in 2026-27 and $10 weekly from 2027-28. Chalmers emphasized that opposing the legislation equated to higher taxes for Australian workers.

Election bribe

The Coalition’s response was critical, with Shadow Treasurer Angus Taylor labelling the proposal an “election bribe.”

Following the announcement, Opposition Leader Peter Dutton is expected to propose his own tax cut plan, potentially halving the fuel excise if elected.

While the Greens did not impede the bill, they expressed that the tax cut was a missed opportunity for more significant cost-of-living relief.

Senator Jacqui Lambie supported the bill, believing any relief is better than none.

U.S. stocks falling amid AI worries and weak earnings

U.S. stocks decline amid AI concerns, defensive sectors rising; traders eye commodities, jobs data, and currency trends for insights.

Published

20 hours ago

February 13, 2026

Harvey Vargas

U.S. stocks decline amid AI concerns, defensive sectors rising; traders eye commodities, jobs data, and currency trends for insights.

U.S. stocks are tumbling as investors grow concerned over AI profitability and disappointing earnings. Defensive sectors are attracting attention ahead of the upcoming CPI report, while market participants are carefully watching how tech-heavy AI stocks are influencing broader indices. Steve Gopalan from SkandaFX notes that these factors are shaping market sentiment.

For traders, commodities like gold and oil are also playing a role in sentiment, providing hedges amid market uncertainty. The January jobs report and unemployment data are adding further context, with potential implications for Federal Reserve policy.

Market expectations for rate cuts are shifting as investors weigh economic indicators against global market dynamics. Traders are also eyeing currency movements, including the Australian Dollar and Japanese yen, for signs of broader economic trends.

Money

Wall Street tumbles as tech stocks face AI disruption fears

Wall Street falters as tech stocks dive amid AI anxieties; 2026 seen as critical for proving AI investment returns.

Published

20 hours ago

February 13, 2026

Harvey Vargas

Wall Street falters as tech stocks dive amid AI anxieties; 2026 seen as critical for proving AI investment returns.

Wall Street took a sharp hit as tech stocks plummeted amid growing investor anxiety over artificial intelligence. Markets reacted strongly to uncertainty about how AI could disrupt major sectors, leaving investors on edge. Kyle Rodda from Capital.com explains why investors are nervous about what’s ahead.

Cisco Systems’ quarterly results added to the market jitters, while defensive sectors gained attention as investors sought safer bets. Analysts describe 2026 as a ‘prove it’ year for AI, with companies needing to demonstrate real returns on their ambitious investments.

The January Consumer Price Index report and rising concerns over AI’s impact on transportation companies further weighed on sentiment. Investors are now closely watching major tech firms for signals on how AI spending will shape future market performance.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#WallStreet #TechStocks #ArtificialIntelligence #StockMarket #Investing #MarketCrash #NASDAQ #FinanceNews

Money

U.S. jobs report, Fed decisions, and Japan’s economic risks explained

January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.

Published

2 days ago

February 12, 2026

Harvey Vargas

January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.

The January US jobs report shows a mixed picture for the economy, with payroll revisions and steady unemployment leaving analysts questioning the impact on Federal Reserve policy. We break down what the numbers mean for interest rates and market confidence.

US stock markets could face turbulence as investors digest the latest jobs data. David Scutt from StoneX explains how these figures may influence equities and what the outlook is for global markets.

Meanwhile, developments in Japan and a strengthening yen could spark new macroeconomic risks. From carry trades to unexpected shocks, we explore how these factors ripple across the global economy.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#USJobsReport #FederalReserve #StockMarket #MacroRisks #JapanEconomy #GlobalMarkets #CurrencyTrading #EconomicUpdate