(overnight) Tax cuts flagged for Australia in 2018

A heads up ICYMI

• Prime Minister Malcolm Turnbull has flagged tax cuts for Australians in the lead-up to the next federal budget
• or perhaps earlier if an (early) election is called
• Mr Turnbull told a Business Council of Australia dinner in Sydney that work on the tax cut was already under way

Sydney Morning Herald has more, but that is the gist of it.

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If they happen they'd be welcome by the Reserve Bank of Australia - it would help support household balance sheets, which are weighed down with high debt ... supportive for household discretionary income, growth of consumption.