Australian government close to securing enough votes for $110 billion tax cut plan

Australia's conservative government is close to securing enough votes to pa...

SYDNEY - Australia’s conservative government is close to securing enough votes to pass sweeping tax cuts after independent lawmakers said on Tuesday they were poised to strike an agreement with Prime Minister Scott Morrison.

Australian Treasurer Josh Frydenberg proposed in April A$158 billion in tax cuts over the next decade, primarily aimed at middle-income earners. That was on top of tax cuts of A$144 billion last year. Senator Stirling Griff said his Centre Alliance party was close to committing the final two votes the government needs to pass the bill.

The tax cuts would be a welcome relief to Australia’s central bank, which has said government action was needed to boost consumer spending in order to revive an economy that is growing at its slowest in a decade.

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