‘Five bucks a week’: Tax cut mocked as housing and inflation bite

Sky News host James Macpherson says the government’s tax relief will do little to ease cost-of-living pressures, warning inflation and possible interest rate rises will quickly wipe out the benefit.

“As of tomorrow, everyone gets up to $268 off their tax bill, which amounts to about five bucks a week,” Mr Macpherson said.

“The way inflation is and a potential rate rise in a few weeks, it’s quickly gone.”