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But analysts including John Daley from the Grattan Institute have pointed out that the same modelling shows its economic benefit to Australians is more like 0.6%.
But we can be pretty certain gradual long-term personal tax cuts are likely because the government is using the same modelling to present bracket creep as the problem the exercise is designed to solve.
The IFS also pointed out it was inconsistent for the government to model the effect of the pupil premium across households but to insist it was incapable of doing the same modelling for other changes.
The government's modelling showed that the 26% target would shave between 0.2% and 0.3% from Australian GDP in 2030, but the same modelling found a 35% target would cut only 0.3%to0.5%5% and a 45% target would cut between 0.5% and 0.7%.
He and his ministers dusted off the same old, factually incorrect scare campaign that Tony Abbott was using – misused the same modelling data to sprout the same incorrect assertions about the possible cost of Labor's scheme, and cranked up the same lines about "big thumping electricity tax" that is about to impoverish Australian households.
It showed the 26% target would shave between 0.2% and 0.4% from Australia's gross domestic product in 2030, but the same modelling found that based on similar assumptions, a 35% target would cut only 0.3%to0.5%5% and a 45% target would cut between 0.5% and 0.7%.
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