The federal-state tax system undermines economic growth and fairness to younger people, the former Treasury boss said.
The federal-state tax system “fails” every test, including for economic growth and fairness to younger people, underlining the need for political leadership to deliver more than “mere tinkering”, former Treasury boss Ken Henry says.
Rather than continuing to heavily tax workers, particularly younger people through “stealth” income tax Dr Henry said younger workers were weighed down by university education debt, burdened with the responsibility of repaying a mountain of government debt and dealing with the costs of climate change, while finding it increasingly difficult to buy a home.
“That’s the approach that we’ve taken,” Dr Chalmers told a Committee for Economic Development of Australia event in Brisbane.
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