Treasurer pleads caution on tax cuts as calls to ditch them grow louder

'I do see what's happening in the UK as a cautionary tale,' Dr Chalmers said. Photo: AAP

The stage three tax cuts do not seem as easy for Labor to get rid of as some may have thought.

There was mounting speculation on Tuesday the government was preparing to perform surgery on the unpopular tax cut especially favourable to high-income earners.