Former Howard government advisor Peter McGauran says Anthony Albanese has “taken the biggest risk” of his political life after breaking a Party campaign promise which assisted in his election as Prime Minister in 2022.

His comments come after the Labor government announced changes to the stage three tax cuts, a piece of legislation they promised not to touch both before and after the Party’s triumphant 2022 federal election campaign.

“He will pay a political price – it is just a question of to what extent,” Mr McGauran told Sky News Australia.

“It allowed the Leader of the Opposition, Peter Dutton, to call him a liar and nobody disagreed.

“But he is gambling the benefit to a large number of people will outweigh those who have lost out.”