Australia's budget

  Tax cuts in Labor's first budgetAustralia's Labor government unveiled its first budget on May 13th. The new government's main goals in crafting the budget were to reward the electorate with tax cuts and to keep spending under control in order to curb inflation. A raft of tax breaks and benefits, especially for working-class households, will shift some of the tax burden to high-income earners while reducing taxes overall by A$46.7bn (US$43.5bn)...