Short-sightedness on tax reform will stifle Australia

Neither political party seems willing to tackle the ongoing deterioration in the budget, which stems from inadequate revenue collection. Bold tax reform is necessary but requires political courage.

The Australian budget has deteriorated considerably since the global financial crisis, mostly on the back of a narrower tax base and inadequate revenue collection. Unfortunately major tax reform is not on the agenda for either major party and that spells trouble for the Coalition’s plan to get the budget back to surplus.

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