Australia poised to secure $110b tax cut plan

Australia’s conservative government is close to securing enough votes to pass sweeping tax cuts after independent lawmakers said on Tuesday they were poised to strike an agreement with Prime Minister Scott Morrison.

Australian Treasurer Josh Frydenberg proposed in April A$158 billion ($110 billion) in tax cuts over the next decade, primarily aimed at middle-income earners. That was on top of tax cuts of A$144 billion last year.

The plan, widely sought amid a slowing economy, needs the support of three independents and minor parties to become law after the main opposition Labor party said it would oppose the legislation in Australia’s upper house Senate, where the government does not have a majority.

Senator Stirling Griff said his Centre Alliance party was close to committing the final two votes the government needs to pass the bill.