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As the Treasurer Jim Chalmers has bluntly said there will be no extension to the middle and low income earner tax rebate and this could mean tax rebates of around $600 less come June 30 this year.

For the Government who ran an election campaign on cost of living pressures, this additional hit along with an estimated additional interest rate hike is going to hurt middle Australia most.

With the International headwinds cited by the Treasurer terms like “belt tightening” are soon likely to seep into economic commentary.

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