Mathias Cormann says no chance Coalition will split income tax package

Finance minister denies revenue lost from tax cuts will lead to budget deficits in an economic downturn

Mathias Cormann has said there is no chance the government will split its $158bn income tax package, hardening the Coalition's stance on its central election commitment.

Labor is mulling its position on the seven-year plan which analysis has shown would benefit the wealthy after first providing tax cuts for low- and middle-income earners.