We've now passed the half-way point of Parliament 44's term and are well into the downhill run to the next election. The recent release of the June quarter CPI has prompted me to wrestle aside my customary laziness and update my chart collection to show the effect of tax-transfer changes on disposable incomes over that first half.
Nit-pickers might say that the first half really ended in the March quarter, but the charts for that period were pretty boring. As I noted in my previous post, very little of the contentious parts of the Government's budget agenda had managed to take effect at the 12 month point, and this remained more or less the case until 30 June. But then the floodgates opened, the budget's fangs began to bite, and the tax-transfer excitement level went up a notch. So lets look at the changes up to this slightly over half-way point.