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Budget’s $8.6bn cost of living package fails to address retail’s needs

(Source: Reuters)
The Government’s long awaited ‘election budget’ was released on Tuesday evening, committing $8.6 billion to ease the growing cost of living. The package is aimed at cutting fuel prices by 22 cents per litre for the next six months, as well as giving low-and-middle income earners a tax bonus of $420. Treasurer Josh Frydenberg also said the government is extending the instant asset write-off scheme to June 2023, which allows businesses with a turnover of up to $50 million to write off new as