Bracket creep: the silent household disposable income killer

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Analysis shows that the federal government has made $123.6 billion worth of discretionary spending decisions in the three budgets it has handed down since taking office in May 2022.

The government has also announced some $20 billion worth of election promises since the start of 2025, headlined by the $8.5 billion expenditure on Medicare.

Independent economist Chris Richardson says taxpayers will ultimately bear the cost of Labor’s spending decisions since taking office via ‘bracket creep’.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.