… That’s a bit rich
That’s the headline for my latest piece in The Guardian. Final paras
unlike the BCA, its opponents have been willing to specify the measures needed to pay for these desirable outcomes. Eschewing the small target strategy routinely recommended for opposition parties seeking office, Labor has announced a range of revenue measures that would finance a substantial expenditure program, combined with some tax relief for low and middle income households. These include scaling back negative gearing, crackdowns on tax evasion and avoidance, and a restoration of the 2% levy on top incomes.
The Business Council has long been a weak and ineffectual participant in Australian policy debate. If it is to be taken seriously, it needs more than astroturf front groups and websites. The Council needs to take on some of its members, both in relation to their corporate behavior and in their resistance to any tax reform that might cause them any pain. Until then, Jennifer Westacott should be more cautious in asserting that others lack a plan and believe in “fairies at the bottom of the garden
I haven’t yet had time to comment on the implications of the Royal Commission into Banking. Most of the obvious points have already been made, but I want to think about the deeper implications for financialised capitalism and its relationship to inequality and wage stagnation. Feel free to toss these issues around, as well as discussing the Guardian article.