Opposition Leader Angus Taylor has committed a Coalition government to phase in income tax indexation under a “tax back guarantee” that he says “will fully protect all taxpayers from inflation”. In his budget reply on Thursday night, Taylor described the plan, which would cost $22.5 billion over the forward estimates, as “generational tax reform”. “It’s fair, simple, and honest. It will back Australians to work hard, take risks, and invest in their future. It will force government to respect you