The barefoot investor has treasurer Jim Chalmers about claims that Australia has become 'economic' and has made the tax cuts in the budget.
Scott Pape made the wilting remark after the mother of two Narelle wrote to request his input about the budget after it was released on Tuesday evening.
“The tax cuts are fine, but $ 5 a week will not stretch far with the way shopping and rent go,” she wrote.
'The treasurer says that we have turned a corner economically, is that really the case, or just spider before the elections?
'I try to make good decisions for our family, but it's hard to know what to believe. Would like to keep your opinion. '
Treasurer Jim Chalmers revealed that the average Australian of July 1, 2026 will save around $ 268 with the figure that species about $ 5 a week.
Mr. Pape said he had read in the newspapers that the meager amount was just enough for Aussies to spend on a cup of coffee.
The financial guru tore in the budget and said that the tax benefits would not even be enough to pay for the drink.
“There was nothing useful in the budget. The most important collection meals? Don't look at the government for help, “said the barefoot investor in a destructive criticism of the budget
“There was nothing useful in the budget,” he wrote in his column for News Corp.
'The most important collection meal? Don't look at the government for help – they have enough problems. '
Mr Pape said he had paid $ 6 for a macchiato and warned that prices would still rise for three reasons.
“Wholesale prices have doubled in the past year,” he said.
Café rental prices and electricity accounts are up. And high personnel costs.
“Sunday rates mean that your man-bun barista is at $ 39/hour (and even then the poor guy still can't afford his rent!).”
Mr Pape said that the rising costs for a coffee were an indication that the economy had not necessarily made a corner as Mr. Chalmers had promised.
“It's a frothy small sign that things are still hot!” he said.
Jim Chalmer's tax cuts work out to an extra few hundred dollars a year savings for the majority of taxpayers
Labor announced the cuts on the budget evening and invoiced them as 'modest'.
A re-elected Labor government would apply a percent of the lowest marginal tax rate to anyone who earns more than $ 18,000 a year.
A second percentage point reduction would come into effect in just over two years.
Next year, the cutbacks will work out to a few hundred dollars in savings for the majority of taxpayers.
The 80 percent of the taxpayers who earn more than $ 45,000 a year depends on an extra $ 268 for tax time for the 2026-27 financial year.
The savings would blow up to $ 536 before 2027-28 compared to the current settings under the Labor plan.
The political editor of Daily Mail Australia Peter van Onselen suggested that the tax reduction 'actually only gives back part of the bracket that continues to take away inflation every year'.
“But something is better than nothing,” he wrote.
The opposition's response was to delete the legal tax benefits of the government, in a movement that is labeled 'extraordinary' by the government.
Instead, Peter Dutton suggested that his government could halve the fuel batches instead of providing tax cuts, which reduced years of lower tax promises.
Mr. Dutton said that halving the fuel batches, indexed twice annually, for a year, a direct cost of living could offer.
Despite earlier concerns that would increase inflation instead of such a measure.
