Broader tax reform
While the focus has been on Stage 3, I have been advocating with others on the importance of a broader conversation on tax - which it seems we are starting to have.
That is because tax is part of the solution to serious long-term issues facing our country including intergenerational equity and housing, climate change, growth and productivity.
Young people today are having a harder time than previous generations. If you look at the last 15 years, for a family headed by somebody over 65, their wealth increased over a decade by about 50 per cent. But for a family headed by a young person under the age of 35, their wealth pretty much did not move. Tax is a major factor in this.
At the same time, we know that productivity is at record lows and that affects our ability to pay for the government services we need and the tax system isn't properly driving climate action.
We need real tax reform – and everything should be on the table.
Join me with tax expert Dr Ken Henry AC to talk about tax later this month. Later this year I will be releasing a Green paper with options for community feedback. I will keep you posted, but please feel free to email the office to share your perspective on tax because this is an important conversation that we need to have.
Politics on Zoom with Allegra and Dr Ken Henry
Tax can sometimes seem intimidating but it’s a really important factor in our country. I wanted to invite Dr Ken Henry AC to do a Q&A about his original tax review and explain why he thinks we face an intergenerational tragedy. Please come along, have your questions answered, and listen to Ken who has a wealth of experience as an economist and public servant.
We'll also have time to discuss climate, cost-of-living, and all the other things that have been going on in Canberra and the community of Wentworth. Please RSVP and submit a question below.
Invite a friend who hasn't yet had the chance to hear from me.
The Zoom link will be sent in an email upon RSVPing.
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