Why we need tax reform.
Every Australian wants to leave the generation after them better off.
But when I talk to young Australians – they don’t feel they will be better off than their parents. They feel weighed down by the cost of housing, of renting, of education, and the growing costs of climate change. And a lot of parents are worried about their kids.
Young people are right – and housing is the lightning rod issue right now.
But it’s broader than that. Between 2004 and 2016, the average wealth of an over 65 household increased by over 50%, while the wealth of an under 35 household barely moved.
We don’t talk much about our tax system – but the truth is, we urgently need tax reform.
With the baby boomer generation heading into retirement, and our tax system dependent on income tax, we rely more and more on younger workers to support us all.
The major parties have been playing wedge politics so hard, that they’ve abandoned these problems.
Tax is central to the big issues we're facing right now - cost of living, housing, climate change, and our economic prosperity. And it's central to stopping young Australians falling behind.
So it’s time to talk about tax – about GST, about income taxes, about stamp duty, about capital gains tax – and how we set up our country for the future.
What I’m doing about it.
The major parties are too timid to take this on, so I’m working on an independent strategy.
I’ve invited leading economists, business leaders, unions, social sector organisations and environmental groups to join me in a series of roundtables. People in the real world know we need to talk about tax - and so far, the signs are good. We are finding consensus.
Most people in Canberra believe talking tax is dangerous – but the people I meet are sick of politicians only talking about the easy stuff, the band-aids, and the short-term fixes.
The important reforms of the past have taken a long time to build consensus, but they've paid off. My goal is to find safe space on our roundtables and bring politicians across the board on side.
Watch and listen.
- ABC Insiders – Allegra talks tax and future generations with David Speers (link)
- ABC RN Breakfast – 'Our tax system is not set up for the future': Allegra Spender (link)
- Sky News – ‘Profound’ impact on young Australians without tax reform push, Spender warns (link)
- Australian Financial Review – There's a logic to Teal MPs tax reform push: The AFR View (link)
- The Daily Telegraph – ‘Big picture’ tax reform call (link)
- Australian Financial Review – Teal MPs back ‘brave’ GST debate (link)
- Canberra Times – Tax on the front line as calls grow for bolder reform (link)
- ABC News – Tax experts and climate scientists are increasingly saying the same thing (link)
- Sydney Morning Herald – Spender to hold own tax summit (link)