Understanding the impact of the budget on output, employment, growth and the Current Account is very important. But what about the other goals? Equity for example.
The Budget seemed regressive in nature when it was announced. The poorer quintiles/deciles appeared to be loosing most and paying more too. Now research (technically modelling by the Treasury) has confirmed this.
Unfortunately the original story in Fairfax media is behind a pay wall, so I have linked to the Guardians shorter story.
Notice the defence by the Fat Controller, that the tax system is progressive so the rich pay more. He misses the point, the report is about the change in equity, not the overall effect. Poor Joe.
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