Experts Hopeful Canberra Tax Roundtable Have Positive Impact on Climate Change

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Independent member of the parliament Allegra Spender recently hosted a tax roundtable in Canberra. The roundtable was attended by several experts who discussed the challenges they feel would impact future generations regarding finances and the climate.

The roundtable was attended by some of the big names in the tax policy space, including Dr Ken Henry, the former Treasury Secretary, Professor Robert Breunig of the Australian National University, and Michelle de Niese with the Corporate Tax Association.

The roundtable is the first of a series of roundtables Spender is planning as she would want to rebuild momentum for significant tax reform in Australia

According to Dr Henry, who wrote an inquiry on the tax system, the nation’s economy is in a “worse position now than it was in 2002 when the report warned future generations could face a heavy tax burden to cover increased spending on health and other services needed by an ageing population.”

Spender opens the session by saying that tax reform was one of the biggest neglected challenges in Australian politics “because the nation had not had reform since the GST was introduced in July 2000.” She jokingly added that some of the people in the session were not even born at the time.

In the session, tax experts and climate scientists discovered they were worried about similar things. Dr Henry, who is also an advocate for climate change, added that changes to the tax policy could greatly help climate change. He said that with the evolving economy, the tax system must be overhauled so that future generations can have a better quality of life.

Both groups, climate scientists and tax experts, concluded that our behaviour needs to change and that future economic activity will depend on having a healthy environment and climate. Both groups also back the idea that the change in the tax system should be maximised as it will impact both.

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