New stage three tax cuts kick in as rising cost-of-living dampens impact

Today marks the end of the financial year and the start of Labor's so-called cost of living relief, with stage three tax cuts the centrepiece. Workers earning $30,000 per year will receive an extra $354 back and every household will receive a $300 energy rebate which automatically comes off energy bills. However new data revealed the number of NSW households forced onto hardship plans because they can't pay their energy bills has risen by 97 per cent since the last federal election. Meanwhile, inflation is up four per cent and that is even before the state and federal stimulus measures have come into force. Judo Bank Chief Economic Advisor Warren Hogan joined Sky News host Danica De Giorgio to discuss whether or not it’s the right time to be providing families with income tax cuts.