War in Middle East could bring tax reform in Australia
Treasurer Jim Chalmers will argue conflict in the Middle East and its impact on the Australian economy justify fast-tracking tax reform, as households brace for higher interest rates. The Reserve Bank had been widely tipped to keep interest rates on hold at its Tuesday meeting but skyrocketing fuel prices caused by the US-led war on Iran have changed forecasts. The big four banks expect a rate rise this week and another in May, which would bring the cash rate to where it was before the Reserve Bank first began cutting rates in February 2025. Soaring fuel prices had treasury