Morning Mail: Taylor maps out tax plan, Coles case could end ‘fake discounts’, UK politics in turmoil

Want to get this in your inbox every weekday? Sign up for the Morning Mail here, and finish your day with our Afternoon Update newsletter Morning everyone. Angus Taylor has pledged to index income tax brackets to inflation as he attempts to set up the battleground for the next election by depicting Labor as the party of tax hikes. Experts think yesterday’s court defeat could cost Coles $200m in fines, and Keir Starmer faces more political turmoil in the UK as rival Andy Burnham is on manoeuvres to join the leadership fray. Coles risk | Coles’ landmark federal court loss could signal the end of “fake discounts” according to two former competition watchdog chiefs, with the supermarket giant at risk of record fines exceeding $200m. Tax gambit | Angus Taylor will impose a fiscal straitjacket on a future Coalition government, promising to tackle bracket creep and invest the majority of all commodity windfalls into a new fund for future generations to pay down debt. He also said welfare payments such as jobseeker, the age pension and disability support would be restricted to Australian citizens. Iran denial | A University of Melbourne academic has denied collaborating on research