Good morning. Labor is under renewed pressure to rethink a $243bn tax cuts plan as new analysis reveals startling imbalances in who will benefit. A massive expansion of paid parental leave could add billions to the economy, a new report suggests. And scientists say a significant sea level rise from the melting of the Greenland ice cap is now inevitable.
The richest 1% of Australians will get as much benefit from the stage three tax cuts as the poorest 65% combined, new parliamentary budget office analysis has projected, putting more pressure on the Albanese government to rethink its commitment to the controversial $243bn plan. The Greens leader, Adam Bandt, again called for the tax cuts – which were legislated in 2019 with Labor support – to be discussed at this week’s jobs and skills summit. He warned they would “turbocharge” inequality.
