Labor under renewed pressure to axe stage-three tax cuts as Australia’s budget woes mount

Treasurer Jim Chalmers says Labor’s stance on the $254bn stage-three tax cuts hasn’t changed, despite worsening demographic and economic factors. Photograph: Bianca de Marchi/AAP

Warnings from the treasurer, Jim Chalmers, that Australia’s economy is slowing and that the population is ageing have prompted calls to scrap the stage-three tax cuts.

Chalmers said the latest Australian population data showed an ageing population continues to present a demographic challenge for Australia and the budget, with the government having to keep one eye on current challenges, while the other focuses on longer term needs in health, pensions and support services.