Greens warn Labor stage-three tax cuts will add to inflation and bring little relief for most workers

Treasurer Jim Chalmers and prime minister Anthony Albanese, who has all but confirmed this week’s caucus meeting will focus on cost-of-living measures. Photograph: Dave Hunt/AAP

The Greens have warned that stage-three tax cuts will add to inflation by injecting $20.7bn into the economy in their first year while failing to compensate low- and middle-income earners for bracket creep.

The party has released new Parliamentary Budget Office estimates that the cuts will cost $323.6bn over a decade as part of a last-ditch push to influence Albanese government deliberations over the future of the cuts, which deliver a $9,000 tax cut to those earning $200,000 or more.