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Tax reform is dead: long live tax reform
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April 29, 2021 5.30am
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I used to get very excited about the federal budget. Less so, nowadays.
Perhaps I’ve lived through enough economic crises – first the GFC and now COVID – to know budgets and budget-like stimulus packages, unlike Christmas, do not only come once a year.
Politicians and media in the budget lock-up bubble in Canberra.
Credit:Alex Ellinghausen
Maybe I’ve simply been forced to miss enough formal lock-ups inside Parliament House in recent years – due to COVID or strikes – that I’ve come to realise life goes on outside the budget lock-up bubble.
Is it time to ditch stamp duty?
Dr Lawrence Uren and Dr May Li and Dr Yunho Cho
February 12, 2021
Australia avoided a recession during the global financial crisis (GFC) due to a mixture of good luck and good policy.
Our proximity to Asia helped to moderate the economic downturn, while economic reforms implemented over the last few decades acted as a shock absorber to reduce their impact upon Australia.
Now, in the midst of another global recession, even if the Australian government successfully navigates the COVID-19 pandemic, a serious challenge remains for the economy.
Since the GFC, productivity gains in advanced economies have slowed. And these productivity gains lay the foundation of future growth in living standards.