Australia can't run away from tax reform

Tax reform will consume a lot of political capital, but the cost of inaction could be even more damaging.

Without widespread tax reform, the Australian government faces a prolonged period of sluggish wage growth and poor productivity. That might sound pessimistic but that’s the simple equation laid out by outgoing Australian Treasury secretary Dr Martin Parkinson.

Speaking to the Business Council of Australia yesterday, Parkinson couldn’t be clearer: we can reform our tax system and boost productivity or we will suffer slower growth.

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