Treasurer Scott Morrison says it is "extremely difficult" to offer tax cuts to offset bracket creep when you don't have a surplus.
"Any changes you make in areas of tax, it's got to go back into tax cuts to people who are earning a living," Mr Morrison told Sydney's 2GB radio on Monday.
He said Labor's announced plan at the weekend to rein in negative gearing and capital gains tax are higher taxes that are not going to be put back into tax cuts, "they are just going to do it to spend more and more and more".
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