Jim Chalmers says cost of stage-three tax cuts has blown out to $254bn over 10 years

Cost of tax cuts that largely benefit wealthy increases by another $11bn as senator David Pocock calls for redesign

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The cost of the controversial stage-three tax cuts has blown out by another $11bn, with the latest government forecasts saying the plan will now cost a whopping $254bn over 10 years.

The treasurer, Jim Chalmers, confirmed the ballooning of the Coalition-legislated tax cuts, due to come into force in 2024, as he said next week's federal budget would still show an improved budget position". It comes as the Labor government claims it would have to find $6.4bn extra to pay for unfunded promises and cost blowouts from the former government.

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