“We truly do have
a once-in-a-generation opportunity to recraft the kind of society we want to be
and the type of economy we need to achieve it.”
“We must be an
aspirational society that rewards hard work and puts money in the pockets of
ordinary Australians, and an entrepreneurial society where we can keep and
attract the best and brightest.”
Jennifer Westacott (The Australian 27/4/20)
As we face the need to reboot our economy and paydown the
debt created by the pandemic crisis, there is a once in a lifetime opportunity to
re-think and re-focus our taxation structure to give improved incentive to work
and make productive investments. We should seek taxation structures that are
simple to administer and difficult to avoid.
For too long we have seen people taxed on their work at too
high a level relative to the returns given to passive capital (including the
family home). All taxes should be put on the table for consideration with no
sacred cows.
The New Zealand government has created an Epidemic Response Committee to replace Parliament which has been shut down. One crucial feature is that the government allowed the non-government parties a majority of its members so that it could apply genuine scrutiny. The committee is chaired by the Opposition Leader. "It's met twice and so far it seems to be doing well on two fronts," said a professor of constitutional law at New Zealand's Otago University, Andrew Geddis. "MPs haven't shied away from asking questions, so it's not a rubber stamp, and it's been free of nasty partisanship. And the opposition has been constructive, trying to make it better". https://www.smh.com.au/politics/federal/calls-for-g