Parko: Reform tax or watch living standards fall

By Leith van Onselen

Outgoing secretary of the Australian Treasury, Dr Martin Parkinson, delivered another important sermon yesterday to a PWC tax re­form lunch, which warned that Australia faces falling living standards if it does not reform its 1950s tax system. From The AFR:

[The fall in national income] should be understood for what it is… A serious warning to us as a nation that unless we tackle structural reform, including fixing our fundamental budget problem, we will not be able to guarantee rising income and living standards for Australians.”