The federal government has confirmed tax cuts to be funded by revenue from the carbon tax will be delayed in next week’s budget.
Federal Minister for Climate Change Greg Combet said today the government will defer the $1.4 billion worth of tax cuts until the carbon price rises above $25.40.
The tax cuts were scheduled to begin in 2015, but Combet told reporters in Sydney they will now be delayed.
“A lower carbon price also means a lower cost to households and businesses to cut our pollution,” Combet said.
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Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
