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5 things you need to know today

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Published on: Tuesday, April 16, 2019

1. The Coalition would need to reduce spending by around $40 billion a year by 2030 to fund its income tax cuts while keeping the budget in surplus according to research by the Grattan Institute published by the AFR. Treasurer Josh Frydenberg said that the Gratan Institute's figures were "wrong" and that the Coalition's tax cuts are "non negotiable".

2. Business groups and commercial finance brokers have criticised Labor's changes to trusts in an article by The Australian, and said that about 350,000 small and medium businesses would be affected.

3. 62% of those who purchased property in Sydney over the past 25 years would have been better off renting and investing in the local stockmarket according to analysis by EY.

4. Wall Street stocks began the week slightly down, with the Dow Jones falling 0.10%, the S&P slipping 0.06% and the Nasdaq dropping 0.10%.

5. The roof and main spire of the Notre Dame Cathedral in Paris have collapsed due to a fire, while the main structure was "saved from total destruction" according to officials.


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