Ministers Coy on Tax Cut Changes

Finance Minister Katy Gallagher and Treasurer Jim Chalmers during a doorstop at Parliament House in Canberra, Australia, on May 11, 2021. Sam Mooy/Getty Images

With a recession looming and rate hikes hurting hip pockets, a fight over tax cuts is ramping up as Labor prepares to deliver its first budget in almost a decade.

Government ministers have consistently stood by legislated stage-three tax cuts, which will largely benefit high-income earners.