Former treasurer says public won’t support corporate tax cuts and says Australia’s net debt will take decades to wipe

The former Liberal treasurer Peter Costello says the Turnbull government ought to consider giving tax cuts to the “forgotten people” in Australia who earn around $100,000 and $200,000, saying they haven’t had a tax cut in a decade.

He also warned the Coalition government would probably fail to reduce Australia’s net debt meaningfully, predicting that the country’s net debt would not be erased in his lifetime.

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