The ‘contrarians’ backing Chalmers’ tax shake-up (with a catch)
by John Kehoe · Australian Financial ReviewJohn KehoeEconomics editor
May 23, 2026 – 5.00am
Amid the fury from start-up founders, investors, and small businesses over Treasurer Jim Chalmers’ budget changes this week, a text message arrived from the former chief executive of a big bank.
“I am a contrarian on the tax changes,” he confided.
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John KehoeEconomics editorJohn Kehoe is The Australian Financial Review’s economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the AFR in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
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