A new ‘build your own budget’ tool reveals just how bad the stage-three tax cuts are

‘The stage-three tax cuts debate has become a bit of an all-or-nothing situation, but you can cut tax rates and change thresholds while delivering much fairer outcomes.’ Photograph: Martin Ollman/Getty Images

Last month, the Parliamentary Budget Office released an incredibly useful tool for our economic debate that not only reveals the secrets of the budget figures, but also highlights how badly the stage-three tax cuts mismanage the budget.

In the middle of December, the PBO gave us all an early Christmas present – one that oddly has largely been left under the tree. So let me do us all a favour and open it.