Page 66 - Intergenerational Report News Today

The treasurer has been busy explaining his new economic model. But one man’s “values-based capitalism” is another man’s corporate philanthropy model - just ask John Howard.

Trend also boosts building maintenance funds, supporter says

Treasurer Jim Chalmers took time out over summer to pen a 6000-word essay for The Monthly on his vision for a new values-based capitalism. Here is an extract.

It’s the sting in the tail from news this week that Australia’s population will grow more slowly and be 1.2 million smaller in a decade than anticipated.

Weak managers surround themselves with yes-persons, so their brains – and, as they see it, their authority – aren’t challenged.

The October budget downgraded Australia’s assumed productivity growth rate. It translates into lower living standards and poorer wages for everyone.

Weak managers surround themselves with yes-persons, so their brains – and, as they see it, their authority – aren’t challenged.

The generous tax concessions for super put more tax pressure on overburdened wage earners to pay for spending on pensions, aged care and health.

The challenge of inflation and short election cycles makes it much harder for government, business and voters to focus on long-term change.

This budget won’t fix the problem: but ageing- and productivity-related problems are increasing funding pressures, and the tax system isn’t up to the revenue task.